Bursa Malaysia slips at opening as foreign selling weighs on market sentiment
KUALA LUMPUR, Sept 14 — Bursa Malaysia opened lower on Monday, extending last week’s bearish performan...
Bursa Malaysia's main index slipped at its opening bell on Monday, following a series of bearish performances over the previous week, as per an analyst's assessment. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) experienced a decline of 1.11 points, or 0.06%, to 1,685.63 from the previous Friday’s closing figure of 1,686.74.
The index also opened 0.09 points lower at 1,686.65. Market breadth appeared weak, with more stocks shedding value than gaining, with losers outnumbering gainers by a ratio of 322 to 200. A total of 338 counters remained unchanged, while 1,980 were untraded and 26 were suspended. Turnover in the market was recorded at 328.99 million shares valued at RM160.49 million.
MBSB Investment Bank Bhd revealed that foreign investors persisted in being net sellers across eight Asian markets for a fourth consecutive week, leading to a total net foreign outflow of US$4.52 billion. Thailand was the only market recording net foreign inflows. The investment bank attributed the net outflows to South Korea, Taiwan, India, Indonesia, Vietnam, Malaysia, and the Philippines.
Among the major players, Public Bank and CIMB both fell by a sen each, closing at RM4.79 and RM7.78, respectively. Maybank rose four sen to RM10.42, IHH Healthcare gained 10 sen to RM7.75, while Tenaga Nasional remained unchanged at RM13.60. Top active stocks Zetrix AI and Luster Industries remained flat at 25 sen and 35 sen, respectively.
United Asiapac Energy declined by a sen to 34 sen, AHB increased by half a sen to six sen, and Top Glove rose by 1.5 sen to 81.5 sen. Nestle led the top gainers, climbing 94 sen to RM92.94. Hong Leong Bank went up by 18 sen to RM23.26, Naim rose by 14 sen to 83.5 sen, Citaglobal increased by 12 sen to RM1.18, and Petronas Chemicals gained 11 sen to RM5.20.
On the other hand, Malaysian Pacific Industries weakened by 46 sen to RM40.24, UMS Integration dropped by 26 sen to RM8.04, Chin Teck Plantations decreased by 14 sen to RM10.26, and United Plantations and Sunway Construction both slipped by 10 sen each, closing at RM33 and RM7.30, respectively. Among the sector-wise indices, the Industrial Products and Services Index edged up by 0.21 points to 188.99, and the Energy Index gained 3.18 points to 817.61.
However, the Financial Services Index slipped by 4.89 points to 19,617.32, and the Plantation Index decreased by 33.43 points to 9,402.58.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
