The FBM KLCI opened 2.62 points lower at 1,625.10, tracking Wall Street losses on Wednesday’s US inflation data. The open showed the pullback spread well beyond the index heavyweights.
Why Did Bursa Malaysia Open Lower on Thursday?
Hotter-than-expected US inflation and renewed expectations of further Federal Reserve (Fed) monetary tightening weighed on sentiment. Bernama reported that the moves threatened to dampen regional risk appetite.
Ongoing foreign selling and geopolitical risks in West Asia also kept pressure on local counters. Elevated oil prices added concern for fuel-sensitive transport and logistics names.
How Deep Was the FBM KLCI Drop at the Open?
- Index level at 9.15 am: 1,617.50, down 10.22 points (0.63%) from 1,627.72
- Breadth: 449 decliners, 86 advancers, 276 unchanged, 2,032 untraded, 9 suspended
- Turnover: 315.47 million units worth RM178.50 million
Breadth was lopsided, with decliners more than five times the number of advancers.
Which Heavyweights Pulled the Bursa Malaysia Index Lower?
- RHB Bank fell 2 sen to RM7.31
- Kuala Lumpur Kepong declined 26 sen to RM21.04, the steepest sen fall among heavyweights
- Nestle lost 12 sen to RM90.00
- Hong Leong Bank shed 20 sen to RM21.20
- IOI Corporation fell 7 sen to RM4.57
Kuala Lumpur Kepong took the biggest hit among the heavyweights. Apex Securities Bhd said bargain-hunting in large-cap stocks on Wednesday had stabilised domestic sentiment, but gains stayed capped by expectations of interest rates staying higher for longer.
Which Stocks Topped the Gainers and Losers on Bursa Malaysia?
Top Gainers at the Open
- Fraser & Neave rose 6 sen to RM20.00
- Suria Capital gained 4 sen to RM1.16
- Allianz Malaysia added 4 sen to RM20.12
- Bank Islam Malaysia rose 2 sen to RM2.02
- Pecca Group added 2 sen to RM5.99
Top Losers at the Open
- Malaysian Pacific Industries fell RM1.48 to RM40.52
- UMS Integration declined 78 sen to RM7.55
- Vitrox lost 50 sen to RM10.14
- UWC fell 47 sen to RM7.26
- MI Technovation shed 43 sen to RM6.27
Malaysian Pacific Industries posted the largest ringgit drop among the losers, at RM1.48 a share. In active trade, Top Glove slipped 1 sen to 90 sen and NationGate Holdings fell 8 sen to RM1.99.
What Do the FBM Indices and Sectors Show for Bursa Malaysia?
- FBM Mid 70 Index: down 231.27 points to 17,213.10, the largest index-point fall
- FBM Emas Index: down 99.63 points to 12,042.97
- FBM Top 100 Index: down 96.47 points to 11,837.56
- FBM Emas Shariah Index: down 126.05 points to 11,979.30
- FBM ACE Index: down 110.23 points to 5,445.02
The Financial Services Index fell 56.84 points to 18,767.59, the largest sector drop. The Plantation Index shed 65.23 points to 8,831.73, while the Energy Index slipped 4.49 points to 823.56.
What Did Apex Securities Say About the KLCI’s Trading Range?
Apex Securities Bhd expects the KLCI to remain range-bound. The brokerage said investors are likely to favour selective domestic and defensive exposures.
On transport and logistics, Apex said stronger domestic activity offers support, while elevated oil prices raise fuel-cost concerns. Investors may want to watch fuel-sensitive logistics names alongside defensive large caps. Readers comparing screening tools can read our AI Stock Analysis for Malaysians guide.
Key Takeaways
- The FBM KLCI fell 10.22 points to 1,617.50 at the open, down 0.63%.
- Decliners outnumbered advancers 449 to 86, with turnover of RM178.50 million.
- Kuala Lumpur Kepong (down 26 sen to RM21.04) and Hong Leong Bank (down 20 sen to RM21.20) were among the heavyweight decliners.
- Malaysian Pacific Industries fell RM1.48 to RM40.52, the largest ringgit loss among top losers.
- Apex Securities Bhd expects a range-bound KLCI and favours selective domestic and defensive exposures.
This article is for information only and is not financial advice. Do your own research and check the latest prices on Bursa Malaysia before making any investment decision.
Frequently Asked Questions
Why did Bursa Malaysia open lower on Thursday?
Bursa Malaysia opened lower because hotter-than-expected US inflation and expectations of further Federal Reserve tightening weighed on sentiment after Wall Street losses. The FBM KLCI opened 2.62 points lower at 1,625.10.
How much did the FBM KLCI fall on 15 October?
At 9.15 am, the FBM KLCI dropped 10.22 points, or 0.63%, to 1,617.50 from its previous close of 1,627.72. Decliners outnumbered advancers 449 to 86.
Which Bursa Malaysia stocks fell the most at the open?
Malaysian Pacific Industries fell RM1.48 to RM40.52, and UMS Integration declined 78 sen to RM7.55. Vitrox lost 50 sen to RM10.14 among the top losers.
What did Apex Securities expect for the KLCI?
Apex Securities Bhd expects the KLCI to remain range-bound. The brokerage said investors are likely to favour selective domestic and defensive exposures.
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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.
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