Bursa Malaysia closed lower on Friday, 16 October, as the FBM KLCI dropped 15.94 points, or 0.98%, to 1,607.76 from 1,623.70. Buying interest shifted from index heavyweights to smaller-cap technology and telecommunications stocks and real estate investment trusts (REITs).
Why Did Bursa Malaysia Close Lower on 16 October?
The index opened 1.13 points higher at 1,624.83. It then traded between 1,602.98 and 1,626.34 during the session.
Turnover rose to 3.13 billion units worth RM3.27 billion, up from 3.06 billion units worth RM3.03 billion on Thursday.
How Many Stocks Gained and Lost Ground Today?
Gainers outnumbered decliners 597 to 470 across the broader market. 518 counters were unchanged, 1,258 were untraded and 33 were suspended.
Which Heavyweights Pulled the FBM KLCI Lower?
Maybank fell nine sen to RM9.99, while CIMB lost 28 sen to RM7.20.
Public Bank rose nine sen to RM4.83, and Tenaga Nasional and IHH Healthcare each added two sen to RM13.00 and RM8.00.
Who Led the Top Gainers and Losers?
MISC Bhd rose 46 sen to RM8.76 and Petronas Dagangan climbed 44 sen to RM19.64. Vitrox added 28 sen to RM10.60, KESM Industries leapt 25 sen to RM4.76 and Pekat group jumped 23 sen to RM2.76.
On the downside, Nestle trimmed RM1.18 to RM89.32 and Kuala Lumpur Kepong dipped RM1.10 to RM20.00. Press Metal Aluminium tumbled 67 sen to RM6.50, Dutch Lady Milk Industries declined 36 sen to RM28.92 and Petronas Gas went down 28 sen to RM17.32.
Did EGH International Hold Its 16 Sen IPO Price?
No. The ACE Market debutant opened at 14.5 sen, 1.5 sen below its IPO price of 16 sen, and closed 2.5 sen lower at 13.5 sen.
Zetrix AI lost one sen to 5.5 sen, while Top Glove was flat at 90 sen. V.S Industry perked up one sen to 34 sen and Ni Hsin declined half a sen to 42 sen.
How Far Did the Plantation Index Fall 210.99 Points?
The Plantation Index tumbled 210.99 points to 8,632.88, the largest sector drop of the day. Kuala Lumpur Kepong, a plantation counter, was among the top losers.
The Financial Services Index declined 74.82 points to 18,751.82. Industrial Products and Services shed 4.13 points to 172.79, while Energy eased 1.87 points to 821.00.
What Happened to the FBM ACE and Mid 70 Indices?
The FBM ACE Index soared 120.15 points to 5,431.05, bucking the broader decline. The FBM Mid 70 Index decreased 13.79 points to 17,225.94.
The FBM Emas Shariah Index fell 82.67 points to 11,919.87, the FBM Emas Index slid 81.25 points to 11,992.27 and the FBM Top 100 Index lost 89.09 points to 11,786.77.
How Did Volume Shift on Bursa Malaysia?
Main Market volume improved to 1.80 billion units worth RM2.97 billion, from 1.75 billion units worth RM2.70 billion on Thursday. ACE Market volume expanded to 493.41 million units valued at RM184.73 million, from 454.44 million units valued at RM206.24 million.
Warrants turnover narrowed to 837.33 million units worth RM112.66 million, from 846.48 million units worth RM117.72 million.
Technology led sector volume with 464.09 million shares, ahead of industrial products and services at 353.67 million and consumer products and services at 270.83 million.
What Is Rakuten Trade Saying About the Dip?
Rakuten Trade vice-president of equity research Thong Pak Leng said the broker remains cautiously optimistic. He cited advance estimate GDP growth of 5.3% year-on-year in the third quarter of 2026.
“We believe the recent market correction has created attractive opportunities among fundamentally sound blue chips, particularly those offering sustainable dividends and healthy earnings prospects,” Thong told Bernama. Dividend-focused readers can review our Dividend Investing Guide.
Key Takeaways
- The FBM KLCI closed at 1,607.76, down 15.94 points (0.98%) on 16 October.
- Maybank (RM9.99) and CIMB (RM7.20) led heavyweight losses, while Public Bank rose to RM4.83.
- The Plantation Index fell 210.99 points to 8,632.88, the largest sector drop.
- EGH International closed at 13.5 sen, below its 16 sen IPO price.
- Turnover reached RM3.27 billion across 3.13 billion units.
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Disclaimer: This article is for general information only and does not constitute investment advice. Figures are taken from Bernama market reports. Always do your own research before making any investment decision.
Frequently Asked Questions
How much did the FBM KLCI fall on 16 October?
The FBM KLCI fell 15.94 points, or 0.98%, to close at 1,607.76. It opened 1.13 points higher at 1,624.83 and traded between 1,602.98 and 1,626.34.
What was Maybank’s share price after the drop?
Maybank decreased nine sen to RM9.99 on 16 October. CIMB lost 28 sen to RM7.20 the same day, while Public Bank rose nine sen to RM4.83.
Did EGH International trade below its IPO price?
Yes. The ACE Market debutant opened at 14.5 sen, below its 16 sen IPO price, and closed at 13.5 sen.
How fast is Malaysia’s economy growing in 2026?
Malaysia’s advance estimate GDP expanded 5.3% year-on-year in the third quarter of 2026, according to Rakuten Trade. Rakuten Trade’s Thong Pak Leng said the broker remains cautiously optimistic because of this resilience.
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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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