Bursa takes a breather at open after two straight sessions of gains
KUALA LUMPUR, Sept 4 — Bursa Malaysia opened lower on Friday as investors took profits after two straight sessions...
Bursa Malaysia experienced a slight downturn at the opening bell on Friday after two consecutive days of gains, with investors cashing in on profits. The FTSE Bursa Malaysia KLCI index slipped 2.42 points, or 0.14%, to 1,712.71 from Thursday's closing level of 1,715.13. Despite the brief correction, positive market breadth continued to support the broader market, with 220 gainers outpacing 123 losers.
A total of 294 counters remained unchanged, while 2,135 shares were untraded and 19 were suspended. Trading volume totaled 294.19 million shares worth RM90.50 million. Bank Negara Malaysia maintained its overnight policy rate (OPR) at 2.75%. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng cited optimism on Wall Street and a marginal decline in the US 10-year Treasury yield as reasons for the market's resilience.
He predicted the FBM KLCI would trade within the 1,710-1,720 range for the day. Notable movements among major players included Maybank adding two sen to RM10.60, Public Bank falling two sen to RM4.98, and CIMB Group dropping three sen to RM7.96. Tenaga Nasional and IHH Healthcare remained relatively stable, while Zetrix AI, Ingenieur Gudang, Salutica, TWL, and Asteel experienced gains or losses of varying magnitudes.
Among the top gainers, Fraser & Neave and Malaysian Pacific Industries led the pack with gains of 44 sen to RM24.82 and 38 sen to RM39.98, respectively. On the other hand, Ta Ann, Sarawak Oil Palms, and Telekom Malaysia were among the top losers, with declines of eight sen to RM6.21, six sen to RM5.90, and six sen to RM7.72, respectively.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
