Bursa Malaysia Slips At Midday Amid Subdued Regional Sentiment
KUALA LUMPUR, Dec 10 (Bernama) -- Bursa Malaysia retreated in the morning session as investors booked profits ahead of the US Federal Reserve’s interest rate decision later today, mirroring subdued regional markets.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 4.71 points, or 0.29 per cent, to 1,609.46, after opening 3.13 points lower at 1,611.04.
The benchmark traded in a range of 1,606.11 to 1,611.04 during the morning, following Tuesday’s close of 1,614.17.
Decliners led gainers 446 to 389, with 541 counters unchanged, 1,373 untraded, and 12 suspended.
Market turnover stood at 2.55 billion shares worth RM1.09 billion.
Regionally, China’s SSE Composite Index dipped 0.72 per cent to 3,881.51, Hong Kong’s Hang Seng Index fell 0.43 per cent to 25,325.05, Singapore’s Straits Times Index declined 0.32 per cent to 4,498.59, and Japan's Nikkei 225 eased 0.10 per cent to 50,603.98.
Malacca Securities Sdn Bhd said the FBM KLCI is likely to remain soft ahead of the US Federal Open Market Committee (FOMC) meeting’s conclusion.
The FOMC began its two-day policy meeting yesterday, set to conclude today.
“The Chicago Mercantile Exchange FedWatch Tool currently implies an 87.6 per cent probability of a rate cut, although policymakers may still opt for a ‘hawkish cut’ given firmer labour indicators and limited fresh data following the government shutdown,” the brokerage noted.
It added that clearer market direction is expected only after the Fed announces its decision.
Among heavyweight stocks, Maybank was unchanged at RM10.10, Public Bank rose one sen to RM4.38, CIMB Group fell four sen to RM7.81, IHH Healthcare slipped 12 sen to RM8.41, while Tenaga Nasional gained four sen to RM12.74.
On the active list, Velesto Energy added two sen to 27.5 sen, Zetrix AI gained 3.5 sen to 84 sen, Borneo Oil was flat at half-a-sen, Main Market debutant Lac Med rose two sen to 77 sen, and TWL Holdings remained at 2.5 sen.
Top gainers included DKSH, up 66 sen to RM5.93; Dutch Lady, up 34 sen to RM30.34; Allianz Malaysia, up 32 sen to RM19.98; Petronas Dagangan, up 24 sen to RM19.22; and UWC, up 20 sen to RM3.97.
Among top decliners, BLD Plantation lost 50 sen to RM16.00, Hong Leong Industries dropped 30 sen to RM15.70, Fraser & Neave fell 20 sen to RM35.00, Press Metal slipped 13 sen to RM6.71, and Telekom Malaysia shed 11 sen to RM7.69.
On the index board, the FBM Emas Index fell 23.52 points to 11,909.68, the FBM Emas Shariah Index eased 13.87 points to 11,780.80, the FBMT 100 Index dropped 27.71 points to 11,693.27, the FBM ACE Index slipped 27.80 points to 4,726.49, and the FBM 70 Index declined 10.56 points to 16,653.94.
By sector, the Financial Services Index fell 34.58 points to 18,895.60, the Plantation Index dropped 11.06 points to 8,070.52, while the Energy Index rose 3.38 points to 755.31 and the Industrial Products and Services Index added 0.11 of-a-point to 166.59.
-- BERNAMA