Bursa lower in early trade

Bursa Malaysia experienced a slight decline in early trade on Friday, despite Wall Street's higher close overnight. The FTSE Bursa Malaysia KLCI index fell by 3.05 points to 1,731.66 from the previous day's closing value of 1,734.71. The benchmark index opened at 1,734.72, just 0.01 points higher than the previous session. Market breadth was positive, with more stocks gaining than losing, at a ratio of 166 to 139.

However, a majority of counters remained flat, with 289 unchanged, 2,234 untraded, and 28 suspended. The trading volume reached 192.50 million shares, valued at RM68.46 million. Analysts from Rakuten Trade Sdn Bhd suggested that investors were cautious, attributing the market's dip to a cooler-than-expected producer price index (PPI).

This may prompt the US Federal Reserve to hold interest rates steady at their upcoming meeting in September. Among the top gainers, UMS Integration increased by 58 sen to RM9.03, while Vitrox Corporation climbed by 15 sen to RM9.55. On the other hand, Petronas Chemicals Group and Press Metal Aluminium Holdings were among the top losers, falling by 10 sen to RM4.45 and 6 sen to RM7.92, respectively.