Share prices on Bursa Malaysia open lower in early trading Wednesday on weak sentiments following renewed worries on
the euro zone debt crisis, dealers said.

The FTSE Bursa Malaysia KLCI (FBM KLCI) fell 2.95 points to 1,651.16 at 9.32 am after opening 0.21 of a point lower at 1,653.90.

They said concerns over the prolonged European debt crisis were worsening after Moody's lowered the European Union's long-term rating to negative.

HwangDBS Vickers Research said the local bourse is expected to wriggle inside a narrow trading range today, with immediate support seen at the 1,650 level.

"The benchmark index, nevertheless, could show a slight positive bias as it attempts to chart new highs ahead," it said in a research note today.

The research house said companies that may see share price actions today include MRCB after the substantial shareholder Employees Provident Fund has dismissed market talk that the pension fund plans to dispose of its entire stake in the property development and infrastructure company; and Favelle Favco, which has received purchase orders to supply offshore cranes totaling RM90 million.

On Bursa Malaysia, the Finance Index fell 19.32 points to 14,762.89, the Plantation Index lost 8.32 points to 8,648.89 and the Industrial Index declined 4.21 points to 2,861.04.

The FBM Emas Index dwindled 19.29 points to 11,257.32, the FBM Mid 70 Index dipped 20.10 points to 12,280.38, while the FBM ACE Index gained 12.09 points to 4,566.85.

Losers led gainers 148 to 104 while 190 counters were unchanged, 1,179 untraded and 20 others suspended. Turnover stood at 197.27 million shares worth RM79.698 million.

Among active counters, Ideal Sun City lost half-a-sen to 5.5 sen, Ingenuity Solutions rose three sen to 25.5 sen and Nextnation Communication earned one sen to 15 sen.

Heavyweights, Maybank lost one sen to RM9.16, Sime Darby fell four sen to RM9.76, while CIMB gained three sen to RM7.80. -- Bernama