KUALA LUMPUR, Nov 1 — Bursa Malaysia opened lower today, as traders continued to digest Budget 2022 which was tabled on Friday. At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 24.97 points to 1,537.34 from Friday's close of 1,562.31. It opened 16.32 points...
KUALA LUMPUR, Nov 1 — Bursa Malaysia opened lower today, as traders continued to digest Budget 2022 which was tabled on Friday.
Although the budget was viewed as expansionary, it said the surprise of the one-off “Cukai Makmur” and contract notes stamp duty changes for listed share trading may offset the goodies presented, at least for the near term."Nevertheless, we expect bargain-hunting activities to emerge once the market players look beyond the one-off tax and focus on the economic recovery tone going forward,” the brokerage house said.
For sector focus, Malacca Securities said following the rally in the healthcare sector on Friday, the traders are expected to refocus on Budget 2022 beneficiaries. Among the heavyweights, Maybank shed two sen to RM8.03, Public Bank fell 12 sen to RM4.05, Petronas Chemicals dropped 14 sen to RM8.55, IHH Healthcare slipped eight sen at RM6.46, and Tenaga eased three sen at RM9.36.
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