Bursa Malaysia Turns Lower At Midday On Selling Pressure

KUALA LUMPUR, May 21 (Bernama) -- Bursa Malaysia turned lower at midday due to persistent selling in selected heavyweights, led by industrial products and services, consumer products and services, as well as plantation counters. 

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.67 points or 0.04 per cent to 1,717.02, from yesterday's close of 1,717.69.

The benchmark index, which opened 3.74 points higher at 1,721.43, moved between 1,715.77 and 1,722.50 during the morning trading session.

Market breadth was negative with losers surpassing gainers 516 to 475, while 547 counters were unchanged, 1,180 untraded and 32 suspended.

Turnover stood at 2.02 billion units valued at RM1.76 billion.

In a research note today, Hong Leong Investment Bank Bhd said that in line with Wall Street’s rally, the FBM KLCI is expected to stabilise, supported by easing bond yields, softer oil prices, and hopes of geopolitical de-escalation.

“However, sentiment remains cautious amid the peak of the first quarter of 2026 (1Q 2026) earnings season, rising domestic political noise -- including speculation of snap state polls and the 16th general election --alongside renewed foreign outflows, which continue to anchor a risk-off bias.

“Despite near-term volatility, we remain cautiously constructive on Malaysia, underpinned by its net oil exporter status, resilient trade linkages, exposure to the global tech upcycle, and supportive fiscal policies. Downside risks are likely to be cushioned around the 1,700 level,” it said. 

Among heavyweights, Petronas Chemicals gave up 11 sen to RM5.59, MR D.I.Y. slid six sen to RM1.64 and Kuala Lumpur Kepong was 34 sen lower at RM20.32, while YTL Corporation rose five sen to RM2.15, and Public Bank gained three sen to RM4.80.

As for the most active counters, ACE Market debutant EI Power rose seven sen to 55 sen, SkyeChip edged up one sen to RM2.22, Oppstar was 1.5 sen firmer at 66.5 sen, MKH put on 23 sen to RM1.89, and Tanco increased two sen to RM1.70.

Of the top gainers, Nestle expanded RM1.24 to RM96.24, Malaysian Pacific Industries surged RM2.10 to RM46.30, UWC went up 44 sen to RM5.83, UMS Integration added 29 sen to RM8.42, and Vitrox Corporation improved 38 sen to RM6.60.

Among the top losers, Fraser & Neave lost 46 sen to RM28.76, Batu Kawan slipped 28 sen to RM20.60, Allianz Malaysia slid 24 sen to RM21.34, Oriental fell 13 sen to RM7.09 and Petronas Chemicals was 11 sen easier at RM5.59. 

On the index board, the FBM Emas Index increased 9.23 points to 12,726.73, the FBM Top 100 Index strengthened 8.93 points to 12,567.54, the FBM ACE Index rose 43.92 points to 4,701.88, the FBM Emas Shariah Index increased 4.82 points to 12,648.53, and the FBM Mid 70 Index advanced 72.02 points to 18,280.96. 

By sector, the Financial Services Index perked 24.83 points to 20,037.24, while the Energy Index eased 8.11 points to 784.38, the Industrial Products and Services Index inched down 0.24 of a point to 199.05 and the Plantation Index fell 31.36 points to 8,629.31.

-- BERNAMA