Bursa pares early gains on Wall Street weakness
The main index drops to 1,697.57 as higher crude oil prices and rising US bond yields weigh on sentiment.
Bursa Malaysia saw a dip in early trading on Wednesday, mirroring the decline on Wall Street. The FTSE Bursa Malaysia KLCI fell 2.97 points to 1,697.57, down from Tuesday's close of 1,700.54. Wall Street's performance was impacted by rising crude oil prices and increasing US bond yields. The market breadth was unfavorable, with more stocks declining than gaining.
Of the 407 listed companies, 230 fell, 122 rose, and 2,135 were inactive. Turnover amounted to 199.75 million shares, valued at RM78.70 million. Experts suggest this could present a buying opportunity, expecting the index to stay within the 1,695-1,710 range. The Monetary Policy Committee of Bank Negara Malaysia, set to meet on Thursday, is expected to maintain the overnight policy rate at 2.75% for the rest of 2026.
Among the notable stocks, Maybank and Public Bank remained unchanged, while CIMB Group and Tenaga Nasional dropped by eight sen each. On the most active list, Focus Dynamics, Ni Hsin, and MAG Holdings stayed flat. The FBM Emas Index fell by 29.81 points to 12,575.20, while the FBM Top 100 Index declined by 24.97 points to 12,388.86.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Bursa pares early gains on Wall Street weakness freemalaysiatoday.com
- Bursa Malaysia pares early gains on Wall Street weakness nst.com.my
