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Thursday, 3 May 2018

BURSA Malaysia balance of risk remains for it, It keeps policy on track keeps its interest rate unchanged and reaffirmed and also volume stood at 68.81 million units.

Malaysia: Bursa Malaysia opened easier on Thursday in line with the weaker performance on Wall Street as the US Federal Reserve (Fed) keeps its interest rate unchanged and reaffirmed the outlook for more hikes this year.
At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 1.36 points at 1,850.67 from Wednesday's close of 1,852.03.
The index opened 3.40 points weaker at 1,848.63.
On the broader market losers led gainers 100 to 71, while 115 counters were unchanged, 1,569 untraded and 15 others suspended.
Volume stood at 68.81 million units valued at RM28.99 million.
OANDA Head of Trading in Asia-Pacific Stephen Innes said the Fed had kept its rate unchanged, a move that was highly anticipated.
“The Fed's latest statement redraft was interpreted as dovish on the surface, but below lurked a confident sounding board, suggesting inflation targets are on track.
“With no follow-up presser, additional Fed speak and the release of the minutes on May 23 will provide more clarity, and given the robust US economic data, the balance of risk remains for it to keep policy on track,” he said in a note today.
Another dealer said despite the unchanged interest rate, Bursa Malaysia and its regional peers remained subdued ahead of anxiously-awaited Sino-U.S. trade talks.
Among the heavyweights, Maybank and Petronas Chemicals both rose four sen to RM10.66 and RM8.45, respectively, Public Bank fell six sen to RM23.94 and Tenaga was two sen lower at RM15.82.
For actives, Sumatec Resources eased half-a-sen to 4.5 sen, Sapura was down one sen to 70 sen, Dnonce Technology rose one sen to 33.5 sen while Borneo Oil was flat 8.5 sen.
The FBM Emas Index declined 19.84 points to 12,909.90, the FBMT 100 Index trimmed 14.89 points to 12,728.16, the FBM Emas Shariah Index decreased 18.44 points to 13,059.48, the FBM Ace fell 5.46 points to 5,254.01 and the FBM 70 lost 37.04 points to 15,342.89.
Sector-wise, the Plantation Index inched down 2.21 points to 7,930.92, the Industrial Index slid 23.77 points to 3,186.11 and the Finance Index was 56.86 points lower at 18,125.45.

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