Bursa Malaysia reverses opening gains as KLCI falls to 1,618.72
Declining stocks outnumbered gainers 160 to 122, with early turnover of 138.01 million units valued at RM56.89 million.
Malaysia's benchmark FBM KLCI slipped to 1,618.72 at 9.10am, losing 3.13 points after an initially positive start. The index had opened at 1,623.31, up 1.46 points from its previous close of 1,621.85.
Across the broader market, 160 stocks declined and 122 advanced. Another 273 were unchanged, while 2,206 were untraded and 10 suspended. Trading volume reached 138.01 million units, with a value of RM56.89 million.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Wall Street's mixed performance reflected investors' focus on the US midterm elections. He also pointed to recent foreign fund inflows into Malaysian stocks and expected the KLCI to trade between 1,615 and 1,625.
Among heavyweight shares, Maybank eased to RM9.99 and CIMB to RM6.93, both down five sen. Public Bank held at RM4.81. Tenaga Nasional rose to RM13.18, adding two sen, while IHH Healthcare gained one sen to RM7.77.
MISC topped the gainers with a 12-sen rise to RM8.47. United Plantations was among the leading decliners, shedding 20 sen to RM29.68, while Hong Leong Bank dropped 18 sen to RM21.16. The Financial Services Index retreated 68.69 points to 18,648.21, while the Energy Index added 0.76 points to 827.76.
