Bursa Malaysia opened slightly higher on Monday, Oct 26, but the FBM KLCI turned lower soon after. Market sentiment was weighed down by weaker overnight performance on Wall Street.
How Far Did the FBM KLCI Slip After Opening Higher?
At 9.10 am, the FBM KLCI slipped 3.43 points, or 0.21 per cent, to 1,608.13. The index had opened 0.44 of a point higher at 1,612.00.
Losers edged out gainers 224 to 117 across the broader market. 280 counters were unchanged, 2,280 were untraded and 59 were suspended.
Turnover stood at 171.85 million units worth RM64.49 million.
Why Are Maybank and Tenaga Nasional Dragging the FBM KLCI?
Among the heavyweights, Maybank led the decline. Its share price fell six sen to RM10.
- Maybank: down 6 sen to RM10.00
- Public Bank: down 2 sen to RM4.73
- Tenaga Nasional: down 2 sen to RM13.28
- CIMB: flat at RM7.15
- IHH Healthcare: flat at RM7.90
Which Stocks Led the Gainers and Losers on Bursa Malaysia?
Mulpha International led the top gainers, rising 14 sen to RM2.70. Tomei and Amway each added eight sen to RM1.75 and RM4.08, while Scientex rose seven sen to RM3.59.
On the losing side, Kuala Lumpur Kepong lost 36 sen to RM20.16, the largest drop among the named losers. YTL Power decreased eight sen to RM5.24, See Hup Consolidated declined seven sen to 60.5 sen, and Hong Leong Bank eased six sen to RM21.14.
In active trade, Axteria gained four sen to 18 sen and Ni Hsin slipped 1.5 sen to 47.5 sen. Zetrix AI stayed at 7.5 sen, VinVest Capital inched up one sen to four sen and Revenue IF edged up half a sen to nine sen.
Which Sectors Pulled the Index Lower: Financial Services and Plantation?
The Financial Services Index slipped 50.16 points to 18,604.16. The Plantation Index slid 33.06 points to 8,644.42.
The Energy Index edged up 1.10 points to 835.77. The Industrial Products and Services Index rose 0.11 of a point to 175.51.
Where Did the FBM Emas and Small-Cap Indices Close?
- FBM Emas Index: down 20.14 points to 11,973.31
- FBM Top 100 Index: down 20.94 points to 11,776.67
- FBM Mid 70 Index: down 13.09 points to 17,157.24
- FBM Emas Shariah Index: down 8.68 points to 11,934.89
- FBM ACE Index: down 11.22 points to 5,334.92
What Is Pushing Brent Crude Above US$115 per Barrel?
Rakuten Trade said Wall Street closed broadly lower as crude oil prices rose above US$115 per barrel. The move followed worries that tensions in West Asia may escalate.
At the time of writing, Brent crude slid 1.15 per cent to US$115.38 per barrel. Oil price swings like this are worth monitoring for energy and plantation counters on Bursa Malaysia.
What Trading Range Does Rakuten Trade Expect for the FBM KLCI?
Rakuten Trade vice-president of equity research Thong Pak Leng said the index maintained its climb above the 1,610 mark in early trading as stock accumulation continued. Sellers remained relatively apparent amid ongoing bargain hunting, which made trading volatile.
He expects the FBM KLCI to trend within the 1,605-1,615 range, with trading anticipated to be muted.
Key Takeaways
- The FBM KLCI opened at 1,612.00 and was at 1,608.13 by 9.10 am, down 0.21 per cent.
- Losers outnumbered gainers 224 to 117, with turnover of RM64.49 million.
- Maybank fell six sen to RM10, the biggest drop among the heavyweights.
- The Financial Services Index (down 50.16 points) and Plantation Index (down 33.06 points) were the weakest sector indices.
- Rakuten Trade expects the index to trend within 1,605-1,615.
This article is for information only and is not investment advice.
Frequently Asked Questions
Where did the FBM KLCI close on Oct 26?
At 9.10 am on Oct 26, the FBM KLCI stood at 1,608.13, down 3.43 points or 0.21 per cent from last Friday’s close of 1,611.56. The index had opened at 1,612.00.
Why did Bursa Malaysia fall after opening higher?
Weaker overnight performance on Wall Street weighed on market sentiment. Brent crude also traded above US$115 per barrel on worries that tensions in West Asia may escalate.
What trading range did Rakuten Trade forecast for the FBM KLCI?
Rakuten Trade’s Thong Pak Leng expects the FBM KLCI to trend within 1,605-1,615. He said trading is anticipated to be muted.
How much did Maybank shares fall on Oct 26?
Maybank fell six sen to RM10 in the morning session. It was the largest decline among the heavyweight stocks named in the report.
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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