Kuala lumpur: Bursa Malaysia remained lower at midday, pressured by continued selling amid geopolitical tensions in West Asia, rising crude oil prices, and higher US Treasury yields. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was down by 10.47 points or 0.61% to 1,703.87, compared to the previous close of 1,714.34.
According to BERNAMA News Agency, the benchmark index opened lower at 1,712.70 and fluctuated between 1,702.85 and 1,713.08 in the morning session. The market breadth was negative, with 634 losers exceeding 359 gainers, while 510 counters remained unchanged, 1,328 were untraded, and 21 were suspended. Turnover was recorded at 2.13 billion units worth RM1.45 billion.
Apex Securities Bhd noted the sharp rise in oil prices to US$101 per barrel could attract market attention, highlighting the impact of rising energy costs on the market. The company expressed caution regarding global risk appetite, citing the combination of rising US Treasury yields and surging oil prices as creating a fragile environment. They warned of the risk of a sharper correction if oil or inflation concerns worsen.
Apex Securities also remained cautious on the local bourse, with elevated oil prices affecting the inflation outlook. They stated that market sentiment would likely remain guarded if higher energy costs lead to broader price pressures and the potential for monetary tightening.
Among major stocks, Maybank increased by four sen to RM10.50, Public Bank added one sen to RM4.90, CIMB gained two sen to RM7.93, Tenaga Nasional decreased by six sen to RM13.68, and IHH Healthcare fell by nine sen to RM7.83. Actively traded stocks included Zetrix AI, which fell 1.5 sen to 25.5 sen, Ni Hsin dropped four sen to 26 sen, Top Glove gained seven sen to 70 sen, HHRG trimmed 1.5 sen to 16 sen, and Supermax Corporation rose 4.5 sen to 39.5 sen.
Top gainers were led by United Plantations, up 74 sen to RM33.74, followed by Hengyuan Refining, which increased by 25 sen to RM3.41, Malayan Cement up 14 sen to RM5.67, Kerjaya Prospek advancing 13 sen to RM3.41, and Ajinomoto gaining 12 sen to RM19.34. Among top losers, Nestle dropped 62 sen to RM92.38, Kuala Lumpur Kepong fell 30 sen to RM22.60, Telekom lost 22 sen to RM7.96, Kelington slid 16 sen to RM8.49, and Bursa Malaysia dipped 14 sen to RM8.54.
On the index board, the FBM Mid 70 Index dropped 28.76 points to 17,835.80, the FBM ACE Index fell 13.42 points to 5,284.24, the FBM Emas Index weakened 62.57 points to 12,618.44, the FBM Top 100 Index eased 62.12 points to 12,417.84, and the FBM Emas Shariah Index decreased by 61.77 points to 12,445.13. Sector-wise, the Financial Services Index shed 103.91 points to 19,943.64, the Plantation Index decreased by 27.60 points to 9,422.36, and the Industrial Products and Services Index edged down one point to 187.06, while the Energy Index strengthened by 2.24 points to 820.77.