Bursa opens slightly higher but falls thereafter
The main index slipped 3.43 points to 1,608.13 as sentiment was weighed down by Wall Street's weaker performance.
Bursa Malaysia commenced trading slightly higher on Monday, but subsequently declined as market sentiment was dampened by Wall Street's weaker overnight performance. The FTSE Bursa Malaysia KLCI index dipped 3.43 points, or 0.21%, to 1,608.13 from its previous close of 1,611.56. Despite opening 0.44 points higher at 1,612.00, the benchmark index experienced a decline.
In the broader market, more stocks lost value, with 224 outperforming and 117 underperforming, while 280 remained unchanged. Turnover reached 171.85 million units, valued at RM64.49 million. Thong Pak Leng, vice-president of equity research at Rakuten Trade Sdn Bhd, attributed the Wall Street's broad decline to crude oil prices spiking above US$115 per barrel, due to concerns over escalating Middle East tensions.
Early trading saw the FBM KLCI climb above the 1,610 mark due to stock accumulation, but volatility persisted as sellers were prevalent amid bargain hunting. Heavyweight stocks such as Maybank, Public Bank, Tenaga Nasional, CIMB, and IHH Healthcare saw minor declines, while Zetrix AI, Ni Hsin, and Axteria remained steady or gained slightly.
Among the top gainers were Mulpha International, Tomei, Amway, and Scientex. On the other hand, Kuala Lumpur Kepong, YTL Power, Hup Consolidated, and Hong Leong Bank were among the top losers. Various index boards also experienced declines, with the FBM Emas Index falling 20.14 points to 11,973.31 and the Financial Services Index slipping 50.16 points to 18,604.16.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Bursa opens slightly higher but falls thereafter freemalaysiatoday.com
- Bursa Malaysia opens slightly higher but falls thereafter nst.com.my
