Bursa opens higher but retreats thereafter

KUALA LUMPUR (April 30): Bursa Malaysia opened higher but retreated thereafter, as earlier gains were snapped by mild profit-taking in plantation and technology counters amid mixed performance on the regional markets, dealers said.

At 9.30am, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 5.49 points to 1,603.01 compared to 1,608.50 at Wednesday’s close.

The market bellwether opened 6.71 points higher at 1,615.21.

Overall market breadth was negative with losers leading gainers at 344 to 315, while 398 counters were unchanged, 1,134 untraded and 51 others suspended.

Total volume stood at 1.26 billion shares worth RM704.64 million.

Source: TheEdgeMarkets