Bursa Malaysia Opened Low, There Are Positive Signs!

<p>This morning, Bursa Malaysia opened lower at the opening following profit-taking activity by investors in heavyweight stocks and more cautious sentiment affecting regional markets.</p><p><br /></p><p>At exactly 10.30 this morning, the FBM KLCI rose by 0.48% to 1,520.30 from yesterday's close of 1,512.98.</p><p><br /></p><p>The barometer index opened 3.63 points lower at 1,509.35.</p><p><br /></p><p>At the initial opening, market sentiment was negative where losers outnumbered gainers by 304 to 155. Meanwhile, 310 counters were unchanged, 1,455 counters were untraded and 15 others were suspended.</p><p><br /></p><p>Total trading results are worth 421.14 million units sold which is worth RM261.50 million.</p><p><br /></p><p><br /></p><p>Based on a statement from Malacca Securities, KLCI and FBM Small Cap shares retreated in one session on Wednesday as profit-taking activities began before the Federal Territories holiday yesterday.</p><p><br /></p><p>Meanwhile, the US stock market turned volatile after the Federal Reserve concluded its FOMC meeting with an unchanged interest rate decision,</p><p><br /></p><p>This shows that interest rates in the US are at their peak and there is no talk of an interest rate cut in March.</p><p><br /></p><p>Among the heavyweights, Malayan Banking Bhd (Maybank) was unchanged at RM9.26 per share, Public Bank Bhd added three sen to RM4.42, while CIMB Group Holdings Bhd at RM6.22 and Petronas Chemicals Group Bhd at RM6.76 declined. . one sen each, and Tenaga Nasional Bhd fell eight sen to RM10.64.</p><p><br /></p><p>As for active shares, Minetech Resources Bhd rose one sen to 15.5 sen and TSA Group Bhd rose four sen to 59 sen, Malaysian Resources Corp Bhd (MRCB) fell four sen to 61 sen and TWL Holdings Bhd lost half a sen to 3.5 sen.</p><p><br /></p><p>The Financial Services Index rose 28.08 points to 16,971.07, and the Industrial Products and Services Index dropped 0.58 points to 172.53.</p>