Kuala lumpur: Bursa Malaysia’s benchmark index experienced an initial dip but managed to recover slightly, reflecting a cautious market sentiment following a lackluster performance on Wall Street the previous night. At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 3.01 points to reach 1,617.07, up from Tuesday’s close of 1,614.06, after starting the day marginally lower at 1,613.44.
According to BERNAMA News Agency, the broader market saw more decliners than advancers, with 149 counters falling, 107 rising, and 214 remaining unchanged. Meanwhile, 2,316 counters were untraded, and 10 were suspended, with a turnover of 129.13 million shares valued at RM64.28 million.
Rakuten Trade Sdn Bhd noted that Wall Street’s ongoing struggles, particularly due to overvalued AI-related stocks, have been affecting investor sentiment, resulting in a notable decline of over 1,000 points in the Nasdaq over the past five trading days. The focus remains on Nvidia’s earnings, with the US 10-year yield still elevated at 4.12%.
Despite these challenges, Rakuten Trade expressed optimism about potential bargain-hunting activities, especially if the index falls below the 1,610 threshold. They anticipate the index to fluctuate between 1,610 and 1,620 today.
Among the heavyweights, Public Bank increased by one sen to RM4.26, CIMB rose by eight sen to RM7.53, and TNB added two sen to RM13.20. IHH Healthcare gained 13 sen to RM8.33, while Maybank remained stable at RM9.92. Conversely, Press Metal fell by three sen to RM6.41, and both CelcomDigi and Petronas Gas decreased by two sen each, closing at RM3.45 and RM18.12, respectively.
On the active list, Aquawalk increased by one sen to 32 sen, while Tanco and Perak Transit each added half-a-sen to 99.5 sen and 28 sen, respectively. Genetec stayed flat at 32 sen, and MMAG decreased by half-a-sen to seven sen.
Noteworthy gainers included Hong Leong Bank, which rose by eight sen to RM21, Sunway Construction, and Malaysian Pacific Industries, which both increased by six sen to RM5.78 and RM30.66, respectively. UMS Integration saw a four-sen rise to RM4.46.
Among the top losers, Nestle dropped RM1 to RM111.70, Fraser and Neave fell by 28 sen to RM32.72, Kuala Lumpur Kepong declined by 24 sen to RM20.44, and Petronas Dagangan decreased by 20 sen to RM21.30.
On the index board, the FBMT 100 Index gained 11.90 points to 11,753.22, while the FBM Emas Index added 11.52 points, reaching 11,981.48. The FBM Emas Shariah Index slightly decreased by 0.31 points to 11,967.84. The FBM ACE Index saw a reduction of 7.13 points to 4,904.97, and the FBM Mid 70 Index fell by 26.48 points to 16,759.19.
In terms of sectors, the Financial Services Index rose by 56.82 points to 18,395.41. The Plantation Index eased by 1.93 points to 8,116.69, the Energy Index slipped by 1.6 points to 759.91, and the Industrial Products and Services Index fell by 0.42 points to 165.09.