KUALA LUMPUR, Nov 26 — Bursa Malaysia opened on a mixed note today, as investors stayed on the sidelines ahead of Budget 2021 vote this afternoon.
As at 9.02am, the benchmark index FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.68 points lower at 1,593.90 compared with yesterday’s close of 1,597.69.
The market opened 0.11 of-a-point higher at 1,597.69 before slipping into the red a minute later.
Gainers surpassed losers 220 to 121, while 1454 counters were unchanged, 383 untraded and 333 others suspended.
Total volume stood at 1.20 billion worth RM446.92 million.
An analyst said the morning session would remain muted as the highlight of the day would take place in Parliament at 2pm today.
“Malaysia is already on the path of economic recovery but without the budget passing, it would hamper market sentiment until a new budget is drafted and passed.
“It would also put more tension on income during these trying times as civil servants rely on the budget for their salaries. This includes (assistance for) the frontliners,” he said.
With the passing of the budget, he said the local equity has a high chance of soaring upwards as the Leading Index (LI) showed strong gains in September.
MIDF Investment, in its investment insight today, said the country’s LI rose to 8.6 per cent year-on-year in September 2020 from 7.6 per cent in the previous month.
“This marks the fifth consecutive month of positive growth which indicates that Malaysia’s economy remains on a recovery path as domestic economic activities recover despite facing challenging circumstances,” it said.
It added that the stronger performance of the index was mainly contributed by real imports of semi-conductors, particularly electronics integrated circuits, and number of new companies registered, especially in the wholesale and retail trade sub-sector.
On Bursa Malaysia, heavyweights Public Bank shed 30 sen to RM18.62, Press Metal declined 13 sen to RM6.27, Sime Darby Plantation dipped six sen to RM5.13, and Maybank reduced three sen to RM8.19.
Among the actives, Vivocom shed 14 sen to 71.5 sen, AT Systematization added 1.5 sen to 18.5 sen and Saudee was flat at 52 sen.
On the index board, the FBM Emas Index was 5.81 points higher at 11,446.24, the FBMT 100 Index inched down 7.94 points to 11,221.92, the FBM Emas Shariah Index jumped 14.37 points to 13,138.23, and the FBM 70 surged 60.23 points to 14,600.20.
The FBM ACE declined 29.04 points to 10,550.43, the Industrial Products and Services Index shed 0.30 of-a-point to 158.31, the Plantation Index dipped 31.07 points to 7,282.46, and the Financial Services Index gained 1.05 points to 14,226.36. — Bernama
