FBM KLCI eases in early trade, tracks Wall Street losses

KUALA LUMPUR: Bursa Malaysia's key index, the FBM KLCI, slipped in early trading on Monday, mirroring the decline on Wall Street from last Friday. At 9:15am, the index dropped 8.42 points, or 0.52%, to 1,599.34, following the previous day's close of 1,607.76. Initially, it opened 3.58 points lower at 1,604.18. The broader market saw more decliners than gainers, with 423 down, 103 up, 270 unchanged, 2,048 untraded, and 34 suspended.

Trading volume was 247.52 million units, valued at RM165.34 million. Apex Securities Bhd anticipates the FBM KLCI to stay cautious in the near term, citing continued foreign selling and global uncertainties affecting investor sentiment. This follows the recent sell-off in US tech and AI stocks, and concerns over rising oil prices and inflation.

Domestically, investors will monitor Malaysia's economic performance post-third-quarter 2026 GDP growth of 5.3% and the effects of increasing operational costs, particularly for labor-intensive sectors. Key stocks such as Maybank, Public Bank, CIMB, Tenaga Nasional, and IHH Healthcare showed declines. Among gainers, Petronas Dagangan and Press Metal Aluminium led the rise.

In contrast, Hong Leong Financial Group and Malaysian Pacific Industries were among the biggest losers. The FBM Emas Index, FBM Top 100 Index, FBM Mid 70 Index, FBM Emas Shariah Index, and FBM ACE Index also experienced decreases. Sector-wise, Financial Services and Energy indices faced losses, while Industrial Products and Services saw a slight gain.