Bursa Tracks Wall Street’s Decline in Early Trade

Market Performance

Bursa Malaysia started the day broadly lower as it tracked Wall Street’s weaker performance overnight and on caution ahead of a decision on US interest rates later tonight. At 9:05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 15.60 points to 1,512 from Monday’s close of 1,527.81. The benchmark index opened 14.52 points lower at 1,513.29.

Market Activity

On the broader market, decliners led gainers 241 to 109, while 272 counters were unchanged, 1,814 untraded, and seven suspended. Turnover stood at 133.02 million shares worth RM129.23 million.

Stock Performance

Among heavyweight counters, Maybank and IHH Healthcare fell two sen each to RM10.40 and RM7.07, respectively, while Public Bank dropped six sen to RM4.48 and CIMB shed 24 sen to RM7.01. Tenaga Nasional was flat at RM13.56. In active stocks, Sapura Energy and Elridge Energy were flat at 4.5 sen and 47 sen, respectively, while Nationgate declined four sen to RM1.31. SNS Network eased one sen to 43 sen and Top Glove bagged three sen to 89.5 sen.

Index Performance

On the index board, the FBM Emas Index trimmed 94.73 points to 11,329.75, the FBMT 100 Index weakened 99.08 points to 11,088.72, and the FBM Emas Shariah Index slipped 68.61 points to 11,015.39. The FBM 70 Index lost 84.08 points to 16,239.67, but the FBM ACE Index gained 15.64 points to 4,706.79. By sector, the Industrial Products and Services Index edged down 0.99 of-a-point to 154.07, the Energy Index dropped 2.83 points to 732.53, and the Financial Services Index fell 205.62 points to 18,590.52. The Plantation Index shed 18.68 points to 7,397.57.

Conclusion

In conclusion, Bursa Malaysia tracked Wall Street’s decline in early trade, with the FBM KLCI opening lower and declining further to 1,512. The market is expected to hover within the 1,525-1,535 range today, with the index playing catch-up following an encouraging regional performance yesterday.

FAQs

* What is the current value of the FBM KLCI?
The FBM KLCI is currently at 1,512.
* How many counters are untraded?
There are 1,814 untraded counters.
* What is the current value of the FBM Emas Index?
The FBM Emas Index is currently at 11,329.75.
* What is the current value of the FBMT 100 Index?
The FBMT 100 Index is currently at 11,088.72.