Oil price surge weighs on Bursa Malaysia, KLCI down 7.52 points
KUALA LUMPUR, Sept 10 — Bursa Malaysia stayed lower at mid-morning as selling activity continued amid cautious sen...
Bursa Malaysia's market opened lower on Thursday, mirroring the underperformance of Wall Street overnight. The benchmark FTSE Bursa Malaysia KLCI fell 5.01 points, or 0.29%, to 1,709.33, down from its previous close of 1,714.34. The index had initially opened 1.64 points lower at 1,712.70. Trading activity was muted, with more stocks falling than rising (244 to 146).
A total of 317 counters remained unchanged, 2,124 were untraded, and 21 were suspended. The total share turnover amounted to 298.80 million shares, worth RM127.53 million. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng attributed the market's subdued performance to rising oil prices and the US Treasury Department's plan to increase long-term bond purchases.
Brent crude oil prices crossed the US$100 (RM407) mark, a level not seen since May, while the US 10-year Treasury yield reached 4.845%. Analysts anticipate another lackluster trading session, with the index expected to fluctuate between 1,710 and 1,720. Among notable movers, Maybank and Tenaga Nasional rose while Public Bank and CIMB remained flat.
Heavyweights like Hong Leong Financial and Malaysian Pacific Industries were among the top decliners.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Bursa Malaysia opens lower as Wall Street weakness, oil prices weigh malaymail.com
- Bursa opens lower, tracking weaker Wall Street freemalaysiatoday.com
