Bursa Malaysia reverses early gains as KLCI falls 0.21 per cent
Declining counters outnumbered advancing stocks 224 to 117, with turnover valued at RM64.49 million.
Malaysia’s benchmark share index turned lower after a positive opening on October 26. By 9.10 am, the FTSE Bursa Malaysia KLCI stood at 1,608.13, down 3.43 points, or 0.21 per cent, from the previous Friday’s closing level of 1,611.56.
The index had started trading at 1,612.00, a gain of 0.44 of a point. Market turnover reached 171.85 million units, while 280 counters were unchanged, 2,280 had not traded and 59 were suspended.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng told Bernama that US stocks had finished broadly lower as concerns about a possible escalation of tensions in West Asia pushed crude above US$115 per barrel. Brent was subsequently down 1.15 per cent at US$115.38 per barrel.
Among heavyweight shares, Maybank dropped six sen to RM10. Public Bank declined two sen to RM4.73, and Tenaga Nasional shed two sen to RM13.28. CIMB held at RM7.15, while IHH Healthcare was unchanged at RM7.90.
Mulpha International topped the gainers, rising 14 sen to RM2.70. Kuala Lumpur Kepong was among the leading decliners, losing 36 sen to RM20.16. Sector indices were mixed: financial services dropped 50.16 points to 18,604.16, while energy gained 1.10 points to 835.77.
