Bursa’s key index opens higher before easing marginally

Bursa Malaysia's principal index commenced higher on Monday, only to see a slight decline in the early trading hours on Tuesday, according to an analyst's report. The benchmark index retreated 0.10 points, or 0.006%, to 1,671.52 from Friday's close of 1,671.62. At 9:10 am, the index had opened 0.93 points higher at 1,672.55. However, market breadth was negative, with far more stocks declining than advancing.

There were 226 losers against 153 gainers, with 332 unchanged stocks, 2,213 untraded, and 91 suspended. The total turnover was 209.81 million shares, valued at RM115.48 million. Last Friday, China and the US reached an agreement to reduce tariffs by $30 billion and initiate a dialogue on artificial intelligence, as part of a broader eight-point deal brokered following Chinese President Xi Jinping's visit to Washington.

Factors like the impending release of Malaysia's Budget 2027 on October 9 might also sway market sentiment, with investors likely to keep an eye on potential beneficiaries in sectors such as construction, utilities, technology, and consumer goods. Among the notable performers, Maybank slipped to RM10.16, Public Bank rose to RM4.81, CIMB remained steady at RM7.90, Tenaga Nasional added two sen to RM13.16, and IHH Healthcare surged to RM8.14.

In trading, ACE Market debutant Evocom fell to 14 sen, Jaks Resources recovered to 18 sen, Inari Amertron fell to RM2.50, Ekovest added a sen to 18.5 sen, and MYMBN remained unchanged at 15.5 sen. Among the top gainers, Hong Leong Bank rose to RM23.40, Hong Leong Financial increased to RM18.90, Petronas Dagangan and APM Automotive climbed to RM19.64 and RM2.84, respectively, and Petronas Gas increased by 10 sen to RM17.50.

United Plantations was the biggest loser, dropping to RM32.32. Other notable movers included TSH Resources falling to RM1.25 and UWC and SHH Resources declining to RM6.80 and RM1.10, respectively. Sarawak Oil Palms edged down seven sen to RM5.66. The FBM Mid 70 Index fell 64.35 points to 17,780.56, the FBM Emas Index eased to 12,443.98, the FBM Top 100 Index reduced to 12,231.49, the FBM Emas Shariah Index slid to 12,293.53, and the FBM ACE Index advanced to 5,544.64.

Industrials and Services Index slipped 0.20 points to 183.90, while the Energy Index gained 3.05 points to 864.88. Financial Services Index climbed to 19,557.07, and the Plantation Index reduced by 18.90 points to 9,315.97.