Why Did Bursa Malaysia Slip After a Higher Open?
The FBM KLCI opened 0.70 of a point higher at 1,611.86. It then eased to 1,610.50 at 9.13 am, down from Thursday’s close of 1,611.16.
Rakuten Trade vice-president of equity research Thong Pak Leng said Wall Street closed mostly lower after weaker earnings from Alphabet Inc. That reignited concerns over the substantial capital expenditure required for AI investments.
How Did Heavyweights Like Maybank and CIMB Trade?
Maybank rose two sen to RM10.02, while CIMB gained seven sen to RM6.96. IHH Healthcare added four sen to RM7.89.
Public Bank shed one sen to RM4.72, while Tenaga Nasional was unchanged at RM13.30. Heavyweight moves were mixed, with banks and healthcare offsetting the Public Bank dip.
Which Stocks Led the Gainers and Losers?
Country View topped the gainers, rising 14 sen to RM2.85. Kein Hing added six sen to RM1.08, while Genting Plantations gained five sen to RM5.10 and Lianson Fleet rose four sen to RM1.52.
On the downside, Malaysian Pacific Industries fell 60 sen to RM40.90, the steepest drop among the named top losers. UWC Bhd shed 20 sen to RM7.44, while MN Holdings declined 12 sen to RM3.83.
Pentamaster Corporation lost nine sen to RM5.80. In active trade, Zetrix AI and JAKS Resources each shed one sen to seven sen and 14 sen.
How Broad Was the Selling on Bursa Malaysia?
Losers outnumbered gainers 265 to 107 across the broader market. A further 265 counters were unchanged, 2,143 remained untraded and 66 were suspended.
Turnover stood at 291.30 million units worth RM95.01 million. GIIB Holdings fell 10.5 sen to 43.5 sen, while Ni Hsin and EWI Capital gained one sen each to 38 sen and 14.5 sen.
Where Did the FBM Emas and Sector Indices Move?
The FBM Emas Index fell 17.00 points to 12,038.89, while the FBM Top 100 Index shed 15.29 points to 11,835.67. The FBM Mid 70 Index declined 66.17 points to 17,417.95.
The FBM Emas Shariah Index lost 32.73 points to 12,051.55, and the FBM ACE Index slipped 32.61 points to 5,414.55. Among sectors, the Plantation Index added 18.44 points to 8,655.34, a move that sat alongside Genting Plantations’ five-sen gain.
The Financial Services Index jumped 18.69 points to 18,556.63. The Energy Index edged up 0.28 of a point to 844.64, while the Industrial Products and Services Index eased 0.36 of a point to 177.03.
What Is the 1,600-1,620 Range for the KLCI?
Thong said the benchmark “remains in consolidation mode, with fundamentally sound blue chips offering selective opportunities following the recent correction.” For the day, he envisages the index hovering within 1,600-1,620.
Thursday’s close of 1,611.16 sat inside that band. Investors may want to watch whether heavyweights such as Maybank and CIMB hold their gains within that range. Readers tracking these moves can compare tools in our AI Stock Analysis for Malaysians guide.
Key Takeaways
- The FBM KLCI eased 0.66 of a point to 1,610.50 at 9.13 am after opening at 1,611.86.
- Maybank rose two sen to RM10.02 and CIMB gained seven sen to RM6.96.
- Losers outnumbered gainers 265 to 107, with turnover of RM95.01 million.
- Rakuten Trade expects the benchmark to hover within 1,600-1,620 for the day.
Disclaimer: This article is for information only and is not investment advice. Stock prices are as reported in the source and can change quickly. Always do your own research before making any investment decision.
Frequently Asked Questions
Where did the FBM KLCI close on Friday morning?
At 9.13 am, the FBM KLCI eased 0.66 of a point to 1,610.50, down from Thursday’s close of 1,611.16. The index had opened 0.70 of a point higher at 1,611.86.
Why did Bursa Malaysia slip after a higher opening?
Wall Street closed mostly lower after weaker earnings from Alphabet Inc. That reignited concerns over the capital expenditure needed for AI investments, according to Rakuten Trade’s Thong Pak Leng.
How much did Maybank shares move?
Maybank rose two sen to RM10.02 in the same session. CIMB gained seven sen to RM6.96 over the same period.
What trading range did Rakuten Trade expect for the KLCI?
Rakuten Trade’s Thong Pak Leng expects the FBM KLCI to hover within 1,600-1,620 for the day. He said the benchmark remains in consolidation mode.
Source: View Original Article — The content is based on the original publisher. Refer to the original content for accurate info. Contact us for any changes.
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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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