Bursa opens slightly higher but falls thereafter
Bursa Malaysia opened slightly higher on Monday but fell thereafter as market sentiment was weighed down by the weaker overnight performance on Wall Street.
At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 3.43 points, or 0.21%, to 1,608.13 from last Friday’s close of 1,611.56.
The benchmark index opened 0.44 of a point higher at 1,612.00.
Across the broader market, losers edged out gainers 224 to 117, while 280 counters were unchanged, 2,280 untraded, and 59 suspended.
Turnover stood at 171.85 million units worth RM64.49 million.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Wall Street closed broadly lower as crude oil prices rose above US$115 per barrel on worries that tensions in the Middle East may escalate.
At the time of writing, Brent crude oil prices slid 1.15% to US$115.38 per barrel.
“In early trading, the FBM KLCI maintained its climb above the 1,610 mark as accumulation of stocks continued.
“However, trading was volatile as sellers remained relatively apparent amid the ongoing bargain hunting activities. Therefore, we expect the index to trend within the 1,605-1,615 range as trading is anticipated to be muted,” he noted.
Among the heavyweight stocks, Maybank fell six sen to RM10, Public Bank and Tenaga Nasional were two sen lower at RM4.73 and RM13.28 respectively, while CIMB and IHH Healthcare were flat at RM7.15 and RM7.90.
In active trade, Zetrix AI remained unchanged at 7.5 sen, Ni Hsin slipped 1.5 sen to 47.5 sen, while Axteria gained four sen to 18 sen, VinVest Capital inched up one sen to four sen and Revenue IF edged up half a sen to nine sen.
Mulpha International led the top gainers, gaining 14 sen to RM2.70, while Tomei and Amway each added eight sen to RM1.75 and RM4.08 respectively, and Scientex rose seven sen to RM3.59.
Among the top losers, Kuala Lumpur Kepong lost 36 sen to RM20.16, while YTL Power decreased eight sen to RM5.24. See Hup Consolidated declined seven sen to 60.5 sen, and Hong Leong Bank eased six sen to RM21.14.
On the index board, the FBM Emas Index decreased 20.14 points to 11,973.31, while the FBM Top 100 Index lost 20.94 points to 11,776.67.
The FBM Mid 70 Index fell 13.09 points to 17,157.24, the FBM Emas Shariah Index was 8.68 points lower at 11,934.89, and the FBM ACE Index fell 11.22 points to 5,334.92.
Sector-wise, the Industrial Products and Services Index edged up 0.11 of a point to 175.51, and the Energy Index edged up 1.10 points to 835.77, while the Financial Services Index slipped 50.16 points to 18,604.16, and the Plantation Index slid 33.06 points to 8,644.42.
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