FBM KLCI Opens Lower But Edges Higher Thereafter

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia’s benchmark index opened lower but turned marginally higher thereafter amid a cautious market undertone following a weak Wall Street’s performance overnight.

At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.01 points to 1,617.07 from Tuesday’s close of 1,614.06, after opening 0.62 of-a-point easier at 1,613.44. 

On the broader market, decliners edged advancers 149 to 107, while 214 counters were unchanged, 2,316 untraded, and 10 suspended.

There was a turnover of 129.13 million shares valued at RM64.28 million.

Rakuten Trade Sdn Bhd said Wall Street stumbled again as AI-related stretched valuations continue to weigh on sentiment. The ongoing shrinking risk appetite saw the Nasdaq lose by more than 1,000 points over the past five trading days

It added that all eyes will be on Nvidia’s earnings later today as the US 10-year yield remains elevated at 4.12 per cent. 

“Notwithstanding this, we remain adamant that bargain-hunting activities should return if and when the index goes below the 1,610 threshold. We thus expect the index to trend within the 1,610-1,620 range today,” Rakuten Trade said in a research note today. 

Among heavyweights, Public Bank added one sen to RM4.26, CIMB jumped eight sen to RM7.53, TNB increased two sen to RM13.20, IHH Healthcare bagged 13 sen to RM8.33, Maybank was flat at RM9.92, Press Metal declined three sen to RM6.41, while CelcomDigi and Petronas Gas shed two sen each to RM3.45 and RM18.12, respectively. 

On the most active list, Aquawalk went up one sen to 32 sen, Tanco and Perak Transit both grew half-a-sen to 99.5 sen and 28 sen, respectively. Genetec was flat at 32 sen, and MMAG slipped half-a-sen to seven sen. 

Top gainers included Hong Leong Bank which bounced eight sen to RM21, Sunway Construction and Malaysian Pacific Industries went up six sen each to RM5.78 and RM30.66 while UMS Integration expanded by four sen to RM4.46.  

As for the top losers, Nestle discounted RM1 to RM111.70, Fraser & Neave went down 28 sen to RM32.72, Kuala Lumpur Kepong dipped 24 sen to RM20.44 and Petronas Dagangan depreciated 20 sen to RM21.30.

On the index board, the FBMT 100 Index recouped 11.90 points to 11,753.22, the FBM Emas Index garnered 11.52 points to 11,981.48, and the FBM Emas Shariah Index eased 0.31 of-a-point to 11,967.84.  

The FBM ACE Index trimmed 7.13 points to 4,904.97, while the FBM Mid 70 Index weakened 26.48 points to 16,759.19.  

Sector-wise,  the Financial Services Index was 56.82 points higher at 18,395.41, the Plantation Index eased 1.93 points to 8,116.69, the Energy Index slipped 1.6 points to 759.91, and the Industrial Products and Services Index eased 0.42 of-a-point to 165.09. 

-- BERNAMA