KUALA LUMPUR (April 2): Bursa Malaysia opened lower on Tuesday following a mixed performance on Wall Street overnight.

At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.37 points easier at 1,541.65 compared with Monday’s close of 1,544.02.

The benchmark index opened 0.49 of-a-point lower at 1,543.53.

On the broader market, losers marginally beat gainers 164 to 156 with 321 counters unchanged, 1,642 untraded, and 13 others suspended.

Turnover amounted to 205.78 million units worth RM74.99 million.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said Wall Street kicked off the second quarter of the year on a mixed note as sentiment remained affected by the stronger-than-expected inflation data, rendering the US Federal Reserve in no hurry to cut rates.

He noted that the Dow Jones Industrial Average dropped 240 points, but the Nasdaq added 17 points as the US 10-year Treasury yield eased marginally to 4.317%.

Back home, with the FBM KLCI closing broadly higher at almost the 1,545 mark on Monday, he said the recent continuous accumulation by local institutions is believed to be a good sign as this would only force the foreign funds to buy at higher levels when they return.

“As for the benchmark index, it needs to break through the 1,550 level decisively to sustain its second leg of uptrend. Hence we expect it to hover in the 1,545-1,555 range today.

“Meanwhile, the gold price has touched an all-time high at US$2,254 per troy ounce as traders began their shift from equities,” said Thong.

Among the heavyweights, Malayan Banking Bhd gained one sen to RM9.72, CIMB Group Holdings Bhd rose one sen to RM6.67, Petronas Chemicals Group Bhd was one sen higher at RM6.76, Public Bank Bhd shed one sen to RM4.23, IHH Healthcare Bhd decreased one sen to RM6.07, and Tenaga Nasional Bhd rose four sen to RM11.42.

As for the actives, Ahmad Zaki Resources Bhd increased four sen to 26 sen, Widad Group Bhd fell half-a-sen to eight sen, TWL Holdings Bhd was flat at three sen, Zantat Holdings Bhd was unchanged at 49 sen, and Dagang NeXchange Bhd slid half-a-sen to 34 sen.

On the index board, the FBM Emas Index was 13.26 points lower at 11,595.37, the FBMT 100 Index trimmed 14.36 points to 11,235.59, and the FBM Emas Shariah Index weakened 24.80 points to 11,656.09.

The FBM 70 Index eased 8.60 points to 16,167.15, but the FBM ACE Index improved 5.24 points to 4,907.32.

Sector-wise, the Financial Services Index rose 5.12 points to 17,340.41, the Industrial Products and Services Index edged up 0.01 of-a-point to 180.06, and the Energy Index added 3.21 points to 955.76, but the Plantation Index declined 48.12 points to 7,268.30.