Kuala lumpur:<Text>
Bursa Malaysia opened marginally higher in early trade as investors maintained a cautious stance ahead of a potential Chinese New Year (CNY) rally, with recent Venezuela-related developments having little impact on local sentiment. At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 0.32 of a point, or 0.01 percent, to 1,670.08 from last Friday's close of 1,669.76. The benchmark had initially opened 0.02 of a point lower at 1,669.78.
According to BERNAMA News Agency, market breadth was positive, with gainers leading losers 159 to 88. Some 340 counters were unchanged, 2,068 were untraded, and 17 were suspended. Rakuten Trade Sdn Bhd's vice-president of equity research, Thong Pak Leng, commented that the local market was aligned with global markets, observing a mixed first day for 2026 on Wall Street, as selling of tech-related stocks persisted.
Thong noted that the Nasdaq closed in negative territory, while both the S&P 500 and Dow Jones Industrial Average ended in positive territory. He added that the FBM KLCI declined amid some profit-taking activities following a solid performance in December 2025. The local bourse may be taking a pause before realigning itself for a possible CNY rally as market liquidity builds. Thong also predicted that the index would trend between the 1,650-1,670 range for the day.
In the latest geopolitical development involving the United States and Venezuela, Thong mentioned that the market has yet to react to the news. Kenanga Investment Bank Bhd noted in a research report that while headlines have been dominated by the sudden seizing of Venezuelan President Maduro by the US on narco-terrorism charges, any overreaction in the market could present an opportunity to buy on dips for the local market. The situation remains fluid, and equity markets are not expected to be highly volatile, given the fundamental assessments.
Kenanga Investment Bank Bhd also stated that cou ntries such as China and Russia are likely to limit their reactions to strong remarks against the strike. Historically, the impact of geopolitical events on ASEAN and Malaysian markets has been relatively mild, with any weekly pull-back usually within the one percent range.
Among heavyweight stocks, Maybank fell four sen to RM10.40, while CIMB, Public Bank, and IHH were one sen lower at RM8.09, RM4.48, and RM8.59, respectively. Tenaga Nasional remained flat at RM13.78. On the most active list, Insights Analytics rose 10 sen to RM1.23, while TWL, Pharmaniaga, and Tanco remained unchanged at 2.5 sen, 28 sen, and RM1.18, respectively.
Among top gainers, KLK and Malaysian Pacific advanced 18 sen to RM19.98 and RM31.38, respectively, while PPB and Petronas Dagangan improved 10 sen each to RM10.74 and RM20.16. Top decliners saw Nestle fall 20 sen to RM114.30, Allianz Malaysia decline 10 sen to RM20.10, and KLCC Property ease four sen to RM8.77.
On the broader m arket, the FBM Emas Index added 10.97 points to 12,267.41, the FBM Top 100 Index gained 10.25 points to 12,068.91, and the FBM Emas Shariah Index rose 20.18 points to 12,086.68. The FBM Mid 70 Index increased 49.85 points to 16,902.33, while the FBM ACE Index fell 3.38 points to 4,926.65. Sector-wise, the Financial Services Index slid 20.70 points to 19,569.29, the Energy Index rose 4.50 points to 771.27, the Industrial Products and Services Index edged up 0.56 of a point to 172.72, and the Plantation Index gained 35.67 points to 8,306.76.
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