Kuala lumpur: Bursa Malaysia retreated to open lower on Monday, influenced by the negative overnight performance on Wall Street and the impending July 9 reciprocal tariffs deadline. At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined by 13.66 points, or 0.88 percent, reaching 1,536.53 from last Friday’s close of 1,550.19. Initially, the benchmark index opened 5.45 points lower at 1,544.74.
According to BERNAMA News Agency, market breadth was negative, with 436 decliners outpacing 63 gainers. A total of 214 counters remained unchanged, with 1,691 untraded and 19 suspended. Turnover was recorded at 276.83 million shares valued at RM189.99 million. Malacca Securities Sdn Bhd anticipates a cautious start to the week on the local bourse, influenced by negative index futures from Wall Street and the looming July 9 tariff deadline, along with US plans to restrict AI chip shipments to Malaysia and Thailand.
The firm noted that the return of foreign funds and the FBM KLCI’s undervaluation might mitigate downside risks, supported by the data center theme, domestic-driven plays, and anticipation of major infrastructure projects. They remain optimistic about the construction and utility sectors, while real estate investment trust (REIT) counters could benefit should Bank Negara Malaysia decide to lower the overnight policy rate (OPR) in the upcoming monetary policy committee meeting.
Among major stocks, Maybank fell by one sen to RM9.73, while Public Bank and Tenaga Nasional decreased by six sen each to RM4.32 and RM14, respectively. CIMB and IHH Healthcare saw reductions of three sen to RM6.74 and RM6.72, respectively. In active trading, NexG gained one sen to 41 sen, while TWL and Borneo Oil held steady at 25 sen and half-a-sen, respectively. Nationgate declined by 16 sen to RM1.62, and SNS Network slipped by three sen to 53.5 sen.
On the index board, the FBM Emas Index decreased by 121.88 points to 11,495.84, the FBMT 100 Index dropped 119.59 points to 11,271.11, and the FBM Emas Shariah Index fell by 133.25 points to 11,271.11. The FBM 70 Index sank by 260.31 points to 16,526.73, while the FBM ACE Index decreased by 53.96 points to 4,472.44. By sector, the Financial Services Index was down 74.28 points to 17,716.94, the Plantation Index narrowed by 18.65 points to 7,430.09, and the Energy Index fell by 8.78 points to 732.83. The Industrial Products and Services Index eased by 2.50 points to 154.58.