Bursa Malaysia Retreats From Opening Gains as KLCI Dips

Quick Answer: Bursa Malaysia opened 1.13 points higher on Oct 16 but slipped to 1,618.32 by 9.15am, with the FBM KLCI down 5.38 points or 0.33 per cent. Mild profit-taking in heavyweights such as CIMB and Maybank drove the pullback, although 300 counters advanced against 136 decliners. Apex Securities expects the index to stay range-bound, with large-cap defensive names likely to support the KLCI.

Bursa Malaysia opened slightly higher on Oct 16 before easing on mild profit-taking in selected heavyweight counters. The FBM KLCI opened 1.13 points higher at 1,624.83, then dropped to 1,618.32 at 9.15am from yesterday’s close of 1,623.70.

Why Did Bursa Malaysia Give Up Its Opening Gains?

Bursa Malaysia retreats from opening gains as investors turn cautious — Bursa Malaysia gave up its opening gains on Oct 16 as the FBM KLCI slipped at 9.15am.

Apex Securities said local sentiment may recover somewhat after Wall Street’s overnight rebound. The bigger drag is the rotation out of US artificial intelligence (AI)-related technology stocks, which may keep global risk appetite subdued.

Investors tracking AI-linked names can compare this trend with our AI Stock Analysis for Malaysians guide.

Which Bursa Malaysia Heavyweights Fell, Led by CIMB?

CIMB lost 10 sen to RM7.38
Maybank fell six sen to RM10.02
IHH Healthcare declined three sen to RM7.95
Tenaga Nasional slipped 2.0 sen to RM12.96
Public Bank was flat at RM4.74

Public Bank was the only heavyweight unchanged, while the other four slipped. Apex Securities pointed to large-cap defensive names as the likely support for the KLCI.

How Did Bursa Malaysia Breadth Compare: 300 Up, 136 Down?

Advancers outnumbered decliners 300 to 136, while 281 counters were unchanged. Turnover stood at 319.91 million units worth RM148.84 million.

Some 2,126 counters were untraded and 33 were suspended. Apex Securities said Thursday’s sharply negative breadth shows underlying risk appetite remains fragile, despite the benchmark’s relative resilience.

Which Stocks Led the Gainers and Losers on Bursa Malaysia?

Top gainers:

Vitrox rose 18 sen to RM10.50
Malayan Pacific rose 18 sen to RM40.58
MN Holdings gained 14 sen to RM3.80
Westports gained 12 sen to RM6.85
Petronas Dagangan gained 12 sen to RM19.32

Top losers:

Dutch Lady Milk lost 24 sen to RM29.04
Petronas Gas gave up 20 sen to RM17.40
Sarawak Oil Palms cut 13 sen to RM5.10
United Plantations shed 10 sen to RM30.50

How Did ACE Market Debutant EGH International Trade?

EGH International lost three sen to 13 sen. Land & General and Malayan United Industries were both flat at 18 sen and 4 sen.

YB Ventures added one sen to 6.5 sen, while VS Industry climbed half a sen to 33.5 sen.

What Happened to the Index Groups and Sector Indices?

FBM Emas Index fell 16.30 points to 12,057.22
FBM Top 100 Index declined 20.81 points to 11,855.05
FBM Mid 70 Index gained 47.55 points to 17,287.29
FBM Emas Shariah Index fell 1.14 points to 12,001.40
FBM ACE Index rose 48.98 points to 5,359.88

Financial Services Index fell 74.70 points to 18,751.94
Plantation Index shed 36.34 points to 8,807.53
Industrial Products and Services Index inched up 0.14 points to 177.06
Energy Index slipped 0.83 points to 823.70

The Mid 70 and ACE gauges rose while the Top 100 and Emas gauges fell. Financial Services posted the largest point drop among the sector indices.

What Does Apex Securities Expect for the FBM KLCI Next?

Apex Securities expects the KLCI to remain range-bound, with investors likely to favour selective domestic and defensive exposures. Large-cap defensive names are expected to support the index while broader participation stays subdued into the weekend.

Investors may want to watch CIMB, Maybank and Tenaga Nasional, the heavyweights that softened on Oct 16, as the range-bound outlook plays out.

Source: Bernama, via MalayMail. Figures are intraday as reported at 9.15am on Oct 16. This article is general information, not investment advice. Always do your own research before making any decision.

Key Takeaways

The FBM KLCI fell 5.38 points to 1,618.32 at 9.15am after opening 1.13 points higher.
CIMB (RM7.38, down 10 sen) and Maybank (RM10.02, down six sen) were the heaviest heavyweight decliners.
Advancers outnumbered decliners 300 to 136, with turnover of RM148.84 million.
Apex Securities expects the KLCI to stay range-bound, with defensive large-caps providing support.

Frequently Asked Questions

Where did the FBM KLCI trade on Bursa Malaysia on Oct 16?

At 9.15am the FBM KLCI dropped 5.38 points, or 0.33 per cent, to 1,618.32 from yesterday’s close of 1,623.70. It had opened 1.13 points higher at 1,624.83.

How much was Bursa Malaysia turnover on Oct 16?

Turnover stood at 319.91 million units worth RM148.84 million in the report. Advancers outnumbered decliners 300 to 136 over the same session.

Did Maybank shares fall on Bursa Malaysia today?

Yes, Maybank fell six sen to RM10.02 in Bernama’s morning report. Public Bank was flat at RM4.74 and CIMB lost 10 sen to RM7.38.

What does Apex Securities expect for the FBM KLCI?

Apex Securities expects the KLCI to remain range-bound, with investors likely to favour selective domestic and defensive exposures. Large-cap defensive names are expected to support the index.

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