Bursa Malaysia opens slightly higher but falls thereafter
KUALA LUMPUR: Bursa Malaysia opened slightly higher on Monday but fell thereafter as market sentiment was weighed down by the weaker overnight performance on Wall Street.
Bursa Malaysia began the trading day marginally higher on Monday, but subsequently declined as market sentiment was dragged down by a weaker performance on Wall Street. The FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 3.43 points, or 0.21 percent, to 1,608.13 from Friday's close of 1,611.56. At the opening bell, the index was actually up 0.44 points at 1,612.00.
In the larger market context, losses outnumbered gains 224 to 117, with 280 indices unchanged, 2,280 untraded, and 59 suspended. Trading volume for the day totaled 171.85 million units, valued at RM64.49 million. Rakuten Trade Sdn Bhd's equity research vice-president, Thong Pak Leng, attributed the Wall Street decline to crude oil prices breaching $115 per barrel, citing concerns that tensions in West Asia could intensify.
Brent crude oil prices slipped 1.15 percent to $115.38 per barrel at the time of reporting. Initially, the FBM KLCI held its upward momentum above the 1,610 level due to accumulated stocks. However, trading conditions became volatile as sellers were present alongside ongoing bargain-hunting activities. Analysts anticipate the index to stay within a narrow range of 1,605-1,615, with muted trading volumes expected.
Heavyweight stocks such as Maybank dropped six sen to RM10, while Public Bank and Tenaga Nasional each declined two sen to RM4.73 and RM13.28, respectively. In contrast, CIMB and IHH Healthcare remained flat at RM7.15 and RM7.90. Notable activity included Zetrix AI trading unchanged at 7.5 sen, Ni Hsin falling one sen to 47.5 sen, and Axteria rising four sen to 18 sen. VinVest Capital increased one sen to four sen, while Revenue IF climbed half a sen to nine sen. Mulpha International was the top gainer, adding 14 sen to RM2.70, with Tomei and Amway each gaining eight sen to RM1.75 and RM4.08, respectively, and Scientex rising seven sen to RM3.59.
Among the top losers, Kuala Lumpur Kepong fell 36 sen to RM20.16, and YTL Power dropped eight sen to RM5.24. Hup Consolidated and Hong Leong Bank also decreased in value, by seven sen to 60.5 sen and six sen to RM21.14, respectively. The FBM Emas Index lost 20.14 points to 11,973.31, the FBM Top 100 Index slipped 20.94 points to 11,776.67, the FBM Mid 70 Index dropped 13.09 points to 17,157.24, the FBM Emas Shariah Index decreased by 8.68 points to 11,934.89, and the FBM ACE Index fell by 11.22 points to 5,334.92.
Sectors such as Industrial Products and Services and Energy showed minor gains, while Financial Services and Plantation Indexes experienced significant declines.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Bursa opens slightly higher but falls thereafter freemalaysiatoday.com
