KUALA LUMPUR, Dec 31 (Bernama) -- Bursa Malaysia’s benchmark index opened slightly higher but reversed course, tracking weaker Wall Street performance overnight.
At 9.03 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of-a-point to 1,637.29, down from Monday’s close of 1,637.68.
The index had initially opened 0.75 of-a-point higher at 1,638.43.
Market sentiment was negative, with decliners outnumbering gainers 154 to 93. A total of 292 counters remained unchanged, 1,850 were untraded, and 43 were suspended.
Turnover stood at 117.88 million units, valued at RM39.74 million.
Rakuten Trade Sdn Bhd noted that Wall Street closed lower in a choppy session on Monday, driven by profit-taking after a stellar 2024 performance for US equities.
On the local front, the brokerage observed sustained bargain-hunting activity on the FBM KLCI.
“While foreign outflows were apparent, the quantum was easily absorbed.
“With the 1,630 level breached, we expect the index to potentially target 1,650 and hover within the 1,635–1,650 range today, hopefully closing 2024 on a positive note,” Rakuten Trade said in a note.
Among heavyweights, CIMB added one sen to RM8.16, TNB rose four sen to RM14.88, while IHH Healthcare, Hong Leong Bank, and CelcomDigi were flat at RM7.23, RM20.42, and RM3.70, respectively.
Maybank fell two sen to RM10.22, and Public Bank eased one sen to RM4.53.
In active stocks, Velocity Capital and SMTrack gained half-a-sen each to 4.5 sen and 2.0 sen, while Harvest Miracle advanced one sen to 15 sen.
Jaks Resources and Malayan United were unchanged at 13 sen and 7.5 sen, respectively. Meanwhile, MUI Properties dropped 5.5 sen to 38 sen, and Reach Energy slipped half-a-sen to 2.0 sen.
On the broader index board, the FBM Emas Index fell 5.59 points to 12,552.33, the FBM Emas Shariah Index slid 1.92 points to 12,576.92, and the FBMT 100 Index shed 5.94 points to 12,231.24.
The FBM 70 Index declined 20.43 points to 18,798.80, while the FBM ACE Index added 2.41 points to 5,348.28.
By sector, the Financial Services Index dipped 11.37 points to 19,095.54, the Industrial Products and Services Index eased 0.33 of-a-point to 175.66, the Energy Index firmed 2.32 points to 828.86, and the Plantation Index advanced 11.87 points to 7,631.02.
-- BERNAMA
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