KLCI falls 0.33 per cent after positive opening
Gaining stocks still outnumbered losers on Bursa Malaysia, with turnover of 319.91 million units valued at RM148.84 million.
Malaysia’s benchmark share index reversed its opening advance on 16 October, as mild profit-taking hit selected heavyweight stocks. By 9.15 am, the FTSE Bursa Malaysia KLCI was at 1,618.32, down 5.38 points or 0.33 per cent.
The index had started trading at 1,624.83, a rise of 1.13 points from the previous close of 1,623.70. Across the exchange, 300 counters advanced and 136 declined, with another 281 unchanged. Trading volume reached 319.91 million units, valued at RM148.84 million.
Banking heavyweights were among those under pressure. CIMB traded at RM7.38 after losing 10 sen, while Maybank’s six-sen decline took it to RM10.02. Public Bank held at RM4.74. IHH Healthcare was three sen lower at RM7.95.
Among actively traded counters, new ACE Market listing EGH International fell three sen to 13 sen. YB Ventures reached 6.5 sen after adding one sen, while VS Industry’s half-sen rise put it at 33.5 sen.
Apex Securities said Wall Street’s overnight recovery could help local sentiment, although investors moving away from US artificial intelligence-related technology stocks might continue to weigh on global risk appetite. The brokerage expected large defensive stocks to support the KLCI, but anticipated limited broader-market participation ahead of the weekend and a range-bound benchmark.
