KL shares open lower

Share prices on Bursa Malaysia opened lower this morning, in line with regional bourses, as investors followed the
uninspiring performance on Wall Street.

At 9.15am, the FBM KLCI was 4.24 points lower at 1,793.89.59 after opening at 1,795.02.

Losers led gainers 141 to 120, with 145 counters unchanged, 1,187 untraded and 48 others were suspended.

Turnover amounted to 157.87 million shares worth RM148.79 million.

HwangDBS Vickers Research said for the third consecutive day this week, the benchmark index will be working to overcome, and close above, the psychological threshold of 1,800.

"This comes as bargain-hunters are still battling it out with the
profit-takers at the moment to take control over the local bourse," it said in a note today.

The research house said Thong Guan, Dutch Lady and new debutant, Titijaya Land, would attract buying interest in the local equities market.

"Thong Guan's net profit soared 86 per cent, year-on-year, to RM11.1 million and Dutch Lady just declared a single-tier dividend per share of RM1.30," it added.

Newly-listed property developer Titijaya Land made its debut at RM1.80, for a 30 sen premium over its offer price of RM1.50, when it was listed on the Main Market of Bursa Malaysia this morning.

At 9.15am, the company was the most active stock with its share price trading 27 sen higher at RM1.77 with 39.7 million shares traded.

The Finance Index dropped 75.03 points to 16,521.62 and the Industrial Index was 8.32 points lower at 3,106.83 while the Plantation Index rose 27.59 points to 8,813.96.

The FBM Emas Index declined 21.23 points to 12,480.64, the FBMT100 Index eased 22.04 points to 12,201.35, the FBM Ace dipped 19.48 points to 5,646.30 while the FBM 70 rose 2.17 points to 14,175.1.

Other actives, AT Systematization rose half-a-sen to 16 sen while Sumatec lost half-a-sen to 30 sen.

As for heavyweights, Maybank eased two sen to RM9.57, CIMB shed eight sen to RM7.55 and Sime Darby lost seven sen to RM9.56.