Bursa Malaysia ends lower on Oct 26 as the FBM KLCI slipped from last Friday’s close of 1,611.56 to 1,604.36. Selling pressure hit selected heavyweights, mainly utilities and banking stocks, while regional markets also weakened.
Why Did Bursa Malaysia End Lower on Oct 26?
Regional markets ended broadly lower as investors questioned the sustainability of heavy spending on artificial intelligence (AI) infrastructure. Technology stocks led the regional weakness.
The index opened at 1,612.00, its highest level of the day, before sliding to a low of 1,600.45 in the late afternoon session.
Rakuten Trade vice-president of equity research Thong Pak Leng said selling pressure persisted in utility and banking heavyweights amid thin trading volume. Turnover fell to 2.90 billion units worth RM2.15 billion, down from 3.18 billion units worth RM2.69 billion last Friday.
Which Heavyweights Dragged the FBM KLCI Lower?
- Maybank fell 8 sen to RM9.98, the largest drop among the heavyweights named in the report
- IHH Healthcare gave up 6 sen to RM7.84
- CIMB lost 5 sen to RM7.10
- Public Bank trimmed 2 sen to RM4.73
- Tenaga Nasional trimmed 2 sen to RM13.28
Breadth was close to even, with 549 gainers against 514 losers. Another 508 counters were unchanged, 1,330 were untraded and 59 were suspended.
Which Stocks Led Bursa Malaysia’s Gainers and Losers?
Top gainers
- Nestle rose 72 sen to RM90.26
- Malaysian Pacific Industries garnered 58 sen to RM40.58
- Stratus Global climbed 26 sen to RM2.60
- ViTrox Corporation climbed 26 sen to RM10.72
- PPB Group added 24 sen to RM9.02
Top losers
- United Plantations fell 50 sen to RM29.90
- YTL Power decreased 36 sen to RM4.96
- Country View slid 20 sen to RM2.66
- Sarawak Plantation declined 14 sen to RM4.15
- Far East declined 14 sen to RM3.95
Buying interest shifted towards energy stocks, supported by persistently high crude oil prices. In active trade, Axteria gained 5.5 sen to 19.5 sen, while Zetrix AI was flat at 7.5 sen.
What Is Ahead for the FBM KLCI This Week?
Thong expects the FBM KLCI to trade within 1,590–1,620 for the week, he told Bernama. He sees bargain hunting emerging in stocks that have corrected sharply despite sound fundamentals.
Subdued liquidity, elevated oil prices and uncertainty ahead of the United States Federal Reserve’s policy decision this week could limit any rebound. Investors may want to watch whether bank heavyweights keep weighing on the index. For a deeper look at how AI tools screen stocks, read AI Stock Analysis for Malaysians.
What Does the Lower Close Mean for Maybank Shareholders?
Maybank closed at RM9.98 after its 8 sen fall, the largest decline among the banking heavyweights named in the report. CIMB closed at RM7.10 after a 5 sen drop, so both bank counters are worth monitoring against the 1,590–1,620 index range.
This article is for information only and is not a recommendation to buy, sell or hold any stock. Do your own research before making any investment decision.
Key Takeaways
- The FBM KLCI closed at 1,604.36 on Oct 26, down 0.45%.
- Utility and banking heavyweights led the selling, with Maybank down 8 sen to RM9.98.
- Turnover slid to RM2.15 billion from RM2.69 billion last Friday.
- Rakuten Trade expects the FBM KLCI to trade within 1,590–1,620 for the week.
Frequently Asked Questions
What was the FBM KLCI close on Oct 26?
The FBM KLCI closed at 1,604.36 on Oct 26, down 7.20 points or 0.45% from last Friday’s close of 1,611.56. The index hit an intraday low of 1,600.45 in the late afternoon session.
Why did Bursa Malaysia fall on Oct 26?
Selling pressure in utility and banking heavyweights weighed on the index, while regional markets weakened. Rakuten Trade’s Thong Pak Leng said investors questioned the sustainability of AI infrastructure spending and its potential returns.
How much did Maybank shares fall on Oct 26?
Maybank fell 8 sen to RM9.98 on Oct 26, the largest drop among the heavyweights named in the market report. Its decline came alongside a 5 sen fall in CIMB to RM7.10.
What is the FBM KLCI forecast range for this week?
Rakuten Trade expects the FBM KLCI to trade within 1,590–1,620 for the week. Subdued liquidity, elevated oil prices and the US Federal Reserve policy decision this week could limit a rebound.
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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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