Kuala lumpur: Bursa Malaysia opened slightly lower today with the key index dipping 0.06 percent, reflecting ongoing concerns over the West Asia conflict. At 9.07 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) decreased by 1.15 points to 1,678.37 from Monday's close of 1,679.52, even as the index initially opened 8.41 points higher at 1,687.93.
According to BERNAMA News Agency, market breadth remained positive with gainers outnumbering losers 202 to 133. Additionally, 266 counters were unchanged, while 2,074 remained untraded, and 13 were suspended. The turnover was reported at 347.09 million shares valued at RM100.95 million.
In a research note, Malacca Securities indicated expectations for a rebound on Wall Street following US President Donald Trump's demand for a ceasefire in the West Asia conflict. The note suggested that such a rebound could influence the local bourse positively. The weakening of the ringgit towards the 4.07 level against the US dollar is expected to sustain buying interest in export-oriented sectors, such as gloves, with companies like Top Glove and Hartalega on the verge of breakouts.
Rakuten Trade Sdn Bhd's vice-president of equity research, Thong Pak Leng, mentioned that Monday's events might have triggered a risk-off sentiment, expecting a consolidation to emerge with the index potentially trending between the 1,675-1,690 range for the day.
Among the heavyweights, Maybank fell by six sen to RM10.64, while Public Bank added two sen to RM4.80. Tenaga increased by four sen to RM14.24, and CIMB Group dropped by four sen to RM7.35. IHH Healthcare decreased by seven sen to RM8.53.
For active stocks, Hong Seng Consolidated rose by half-a-sen to 1.5 sen, while Tanco dropped 19 sen to 93 sen. TFP Solutions improved by 1.5 sen to seven sen, with GIIB and Land and General remaining stable at 46 sen and 16 sen, respectively.
Among top gainers, Nestle increased by RM1.3 to RM93.0, and Malaysian Pacific Industries climbed 60 sen to RM46.10. Petronas Dagangan and Vitrox each added 16 sen, reaching RM18.76 and RM6.90, respectively.
As for top losers, United Plantations fell by 26 sen to RM31.74, FACB Industries declined by 19 sen to RM1.66, Hong Leong Bank was down eight sen to RM20.88, and IHH Healthcare decreased by seven sen to RM8.53.
On the index board, the FBM Emas Index fell by 2.84 points to 12,467.24, while the FBM Top 100 Index decreased by 9.06 points to 12,306.43. The FBM Emas Shariah Index edged up 8.29 points to 12,451.33. The FBM Mid 70 Index dropped 16.02 points to 17,994.37, and the FBM ACE Index rose by 29.99 points to 4,678.37.
By sector, the Financial Services Index decreased by 28.77 points to 19,531.71. The Industrial Products and Services Index eased by 0.08 of a point to 196.93, the Energy Index slid by 3.92 points to 787.02, and the Plantation Index reduced by 22.27 points to 8,703.13.