KL shares open lower on weak risk appetite

Bursa Malaysia opened lower today as disappointing US economic growth
curbed risk appetite although major US equity barometers posted a mixed
performance last Friday, dealers said.

At 9.07am, the FTSE Bursa
Malaysia KLCI (FBM KLCI) stood at 1,710.16 points, down 1.13 points,
from last Friday's close of 1,711.29 points.

HwangDBS Vickers Research said the key FBM KLCI may enter a consolidation mode today with no visible external leads in sight.

"On the chart, the benchmark index could swing between 1,700 points and 1,720 points ahead.

"Essentially,
trading activity is set to slow down as the countdown to the 13th
General Election enters its last stretch," it said in a note today.

On
the scoreboard, the Finance Index firmed 12.29 points to 15,994.06, the
Industrial Index gained 2.75 points to 2,842.05 but the Plantation
Index eased 2.12 points to 8,105.7.

The FBM Emas Index declined 4.2 points to 11,674.62 and the FBMT100 Index shed 3.9 points to 11,512.69.

The FBM Mid 70 Index, however, rose 11.04 points to 12,894.68 and the FBM Ace Index added 2.04 points to 3,972.85.

Turnover amounted to 17.06 million shares worth RM16.747 million.

Gainers led losers 81 to 65 with 104 counters unchanged, 1,360 counters untraded and 37 others were suspended.

Among actives, SapuraKencana rose seven sen to RM3.09, Inari gained 1.5 sen to 69 sen and Grand-Flo added one sen to 24.5 sen.

Hubline shed half-a-sen to 5.5 sen but Ho Wah Genting was flat at 21.5 sen.

Heavyweights,
Maybank improved two sen to RM9.59, CIMB Group inched up one sen to
RM7.78 but Axiata Group slipped three sen to RM6.76.

Both Sime Darby and Petronas Chemicals were flat at RM9.44 and RM6.48, respectively.-- Bernama