FBM KLCI eases in early trade, tracks Wall Street losses

Bursa Malaysia’s benchmark index eased in early trade on Monday, tracking losses on Wall Street last Friday amid a sell-off in technology and artificial intelligence-related stocks.

At 9.15am, the FTSE Bursa Malaysia KLCI (FBM KLCI) had eased 8.42 points, or 0.52%, to 1,599.34 from Friday’s close of 1,607.76.

The index opened 3.58 points lower at 1,604.18.

Across the broader market, decliners outnumbered advancers 423 to 103, while 270 counters were unchanged, 2,048 untraded and 34 suspended.

Turnover stood at 247.52 million units worth RM165.34 million.

Apex Securities Bhd expects the FBM KLCI to remain cautious in the near term, as persistent foreign selling and heightened global uncertainties continue to weigh on investor sentiment.

The brokerage said the recent sell-off in US technology and AI-related stocks, coupled with elevated oil prices and inflationary pressures, could further dampen risk appetite ahead of the US Federal Reserve’s policy decision on Oct 29.

Domestically, investors would continue to assess Malaysia’s economic outlook following third-quarter 2026 gross domestic product growth of 5.3%, while monitoring the potential impact of rising operating costs on corporate earnings, particularly among labour-intensive businesses, it added.

“We believe a sustained market recovery will depend on improved foreign fund flows and greater stability in global markets,” it said in a research note today.

Among heavyweight stocks, Maybank fell four sen to RM9.95, while Public Bank lost 12 sen to RM4.71. CIMB was flat at RM7.20, Tenaga Nasional slipped four sen to RM12.69 and IHH Healthcare eased two sen to RM7.89.

In active trade, JAKS Resources lost one sen to 13.5 sen, while Top Glove eased half a sen to 89.5 sen. Ni Hsin was flat at 4.2 sen, Rekatech Capital fell one sen to 3.5 sen, and Cape EMS shed 2.5 sen to 28.5 sen.

Among the top gainers, Petronas Dagangan rose 24 sen to RM19.88, while Press Metal Aluminium and Kuala Lumpur Kepong added 10 sen each to RM6.60 and RM20.10, respectively. Hibiscus Petroleum and Petronas Chemicals each gained eight sen to RM2.37 and RM4.40, respectively.

Among the top losers, Hong Leong Financial Group fell 28 sen to RM17.56, while United Plantations lost 24 sen to RM30.36. Malaysian Pacific Industries slipped 22 sen to RM40.20, MISC Bhd shed 20 sen to RM8.56 and Hong Leong Bank declined 16 sen to RM21.14.

On the index board, the FBM Emas Index fell 65.07 points to 11,927.19, while the FBM Top 100 Index declined 64.42 points to 11,722.35.

The FBM Mid 70 Index dropped 105.45 points to 17,120.48, the FBM Emas Shariah Index fell 35.84 points to 11,884.03, and the FBM ACE Index shed 44.89 points to 5,386.16.

Sector-wise, the Financial Services Index fell 163.13 points to 18,588.69, while the Industrial Products and Services Index edged up 0.63 points to 173.42. The Plantation Index shed 7.13 points to 8,625.75, while the Energy Index rose 3.62 points to 824.62.

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