Kuala Lumpur:Bursa Malaysia continued its downtrend at midday, aligning with regional markets amid persistent selling pressure and elevated oil prices.
According to BERNAMA News Agency, at 12:30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 19.39 points, or 1.19%, to 1,613.96 from the previous close of 1,633.35. The benchmark index had opened slightly higher at 1,633.54, reaching its highest level for the morning session before dipping to a low of 1,612.42.
In the broader market, the number of decliners outpaced gainers 580 to 401, with 512 counters remaining unchanged, 1,297 untraded, and 13 suspended. The turnover was recorded at 2.37 billion units valued at RM1.7 billion.
Hong Leong Investment Bank (HLIB) reported that Brent crude oil saw a rise of 0.5% to approximately US$101 per barrel, influenced by Houthi missile and Iranian tanker attacks, which offset improved supply flows from Saudi Arabia and G7 reserves. At the time of reporting, Brent crude had increased by 1.02% to US$101.60 a barrel.
HLIB noted that the focus this week is shifting towards third-quarter earnings, alongside the Federal Open Market Committee minutes and preliminary October consumer sentiment. They also mentioned that United States-Iran tensions and a hawkish Federal Reserve stance could lead the FBM KLCI towards risk-off consolidation ahead of Budget 2027 on October 9, amid high oil prices, rising bond yields, and ongoing foreign outflows.
The upcoming Melaka polls could add to political uncertainty while providing insights into voter sentiment, coalition dynamics, and seat negotiations, amid speculation of an early 16th general election. The Election Commission has announced that nominations will be held on October 31, with polling scheduled for November 14 for the Melaka state election.
In terms of stock performance, Maybank and Public Bank each decreased by two sen to RM9.89 and RM4.59, respectively. CIMB saw a decline of 38 sen to RM7.32, while Tenaga Nasional increased by six sen to RM12.96, and IHH Healthcare remained unchanged at RM7.91.
Among actively traded stocks, Top Glove fell by two sen to 85.5 sen, Zetrix AI decreased by one sen to eight sen, and VS Industry dipped by half a sen to 32.5 sen. Metronic Global and Supermax both remained flat at half a sen and 46 sen, respectively.
Top gainers included Mi Technovation, which surged by 36 sen to RM6.36, Batu Kawan which climbed 32 sen to RM19.60, Malaysian Pacific Industries which advanced 26 sen to RM45.22, Petronas Dagangan which added 22 sen to RM19.34, and Critical Holdings which rose 20 sen to RM2.89.
Conversely, Nestle led the top decliners, dropping RM1.56 to RM89.70. Hong Leong Bank decreased by 62 sen to RM21.46, Fraser and Neave lost 58 sen to RM21.14, CIMB fell by 38 sen to RM7.32, and Hong Leong Financial Group declined by 36 sen to RM17.98.
On the index board, the FBM Mid 70 Index increased by 12.08 points to 17,746.19, while the FBM Emas Index fell by 95.40 points to 12,137.47. The FBM Top 100 Index decreased by 103.25 points to 11,912.53, the FBM Emas Shariah Index rose by 3.55 points to 12,162.53, and the FBM ACE Index edged down by 10.69 points to 5,648.23.
In sectoral performance, the Industrial Products and Services Index edged up 0.19 of a point to 180.60, the Energy Index improved by 3.50 points to 844.22, the Plantation Index dropped by 57.92 points to 8,984.25, and the Financial Services Index retreated by 477.86 points to 18,590.14.