Kuala Lumpur:Bursa Malaysia continued its downward trend at midday on Tuesday, diverging from the positive sentiment observed among regional peers. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) recorded a loss of 16.16 points, settling at 1,600.42 compared to last Friday's closing of 1,616.58. The benchmark index began the day 9.97 points higher at 1,626.55, fluctuating between 1,595.26 and 1,626.55 during the session.
According to BERNAMA News Agency, market breadth was negative, with 679 losers outpacing 351 gainers. Additionally, 403 counters remained unchanged, 1,340 were untraded, and 12 were suspended. The turnover stood at 1.73 billion units valued at RM1.29 billion.
Malacca Securities Sdn Bhd noted that tighter domestic investment conditions might drive hyperscalers to expand overseas, which could benefit Malaysia's data center ecosystem. This is despite concerns over a potential slowdown in US artificial intelligence infrastructure spending following the midterm elections. The brokerage firm suggested that this scenario could support sentiment towards companies like Sunway Construction Group Bhd, MN Holdings Bhd, and Ranhill Utilities Bhd. Additionally, heightened cybersecurity concerns, prompted by suspected digital intrusions targeting financial and government infrastructure, could increase demand for cybersecurity solutions.
In the stock market, Maybank dropped six sen to RM10.06, Public Bank fell 18 sen to RM4.72, CIMB and IHH Healthcare each declined by four sen to RM7.02 and RM7.66, respectively, while Tenaga Nasional remained unchanged at RM13.04. Among actively traded stocks, Zetrix AI was down half-a-sen to six sen, GIIB Holdings decreased by 11 sen to 16 sen, YTL Power International shed 35 sen to RM4.66, whereas Aizo Group rose by one sen to 7.5 sen and VS Industry increased by half a sen to 30 sen.
Top gainers included Malaysian Pacific Industries, which gained RM1.30 to RM37.50, and Nestle, which surged RM1.52 to RM94.88. Pentamaster Corp climbed 15 sen to RM5.03, Sunway Construction Group added 28 sen to RM7.40, and Westports Holdings rose 25 sen to RM7.40. Conversely, YTL Power was among the top losers, dropping 35 sen to RM4.66, Vitrox Corp decreased by 23 sen to RM9.89, Hengyuan Refining fell 28 sen to RM2.64, Kobay Technology was down 21 sen to RM2.03, and Hong Leong Bank retreated 18 sen to RM21.82.
On the index board, the FBM Emas Index fell 99.89 points to 11,865.58, the FBM Top 100 Index declined 102.90 points to 11,695.55, the FBM Mid 70 Index dropped 85.11 points to 16,935.77, and the FBM Emas Shariah Index contracted 99.89 points to 11,865.58. The FBM ACE Index was down by 24.63 points to 5,215.61. Sector-wise, the Industrial Products and Services Index edged down 0.71 of a point to 170.64, the Energy Index fell 19.13 points to 775.73, the Financial Services Index slipped 224.18 points to 18,732.88, and the Plantation Index slumped 69.13 points to 8,657.23.