Bursa Malaysia Extends Losses At Midday On Selling Pressure
KUALA LUMPUR, Oct 1 (Bernama) -- Bursa Malaysia continued its downtrend at midday amid selling pressure, tracking mixed global market performance as risk sentiment remained capped by the relentless rise in United States (US) Treasury yields.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid by 15.36 points to 1,635.81 from Wednesday’s close of 1,651.17.
The benchmark index opened 1.30 points lower at 1,649.87 and traded between 1,634.39 and 1,649.87 during the morning trading session.
On the broader market, decliners outpaced gainers 583 to 305, with 464 counters unchanged, 1,421 untraded and 12 suspended.
Turnover stood at 1.65 billion shares worth RM1.18 billion.
Apex Securities Bhd said market sentiment was also dampened by stronger-than-expected US private-sector hiring, which rose by 90,000 in September, offsetting relief from softer core Personal Consumption Expenditures inflation.
“Investors now turn to Friday’s September non-farm payrolls for direction on the US Federal Reserve’s next move, while stalled US-Iran negotiations keep oil prices volatile and mainland Chinese markets remain closed for the Golden Week holiday,” it said in a note.
Thus, the stockbroking firm expects the FBM KLCI to trade cautiously ahead of the US jobs data report, with a more sustained recovery hinging on a pullback in US bond yields and tangible progress in US-Iran talks.
Among the heavyweights, Maybank and Tenaga Nasional both fell six sen to RM9.93 and RM12.90, respectively, Public Bank lost four sen to RM4.66, CIMB decreased five sen to RM7.74 and IHH Healthcare contracted 19 sen to RM7.64.
In active trade, Zetrix AI and V.S Industry both gained half a sen to 16.5 sen and 28.5 sen, respectively, Jaks Resources reduced half a sen to 20 sen, ACE Market debutant GB Bond retreated 2.5 sen to 22.5 sen and Dagang Nexchange recovered 1.5 sen to 50 sen.
Of the top gainers, Malaysian Pacific Industries advanced RM1.26 to RM41.66, MI Technovation rose 13 sen to RM5.33, Ta Ann accumulated 12 sen to RM5.92, Malayan Cement strengthened 11 sen to RM5.56 and Genting Plantations improved 10 sen to RM5.63.
Kuala Lumpur Kepong led the decliners, falling 76 sen to RM21.44. Allianz Malaysia shed 62 sen to RM21, while Fraser & Neave, Hong Leong Industries and Batu Kawan all trimmed 42 sen to RM21.32, RM16.04 and RM20.10, respectively.
On the index board, the FBM Mid 70 Index fell 87.65 points to 17,487.02, the FBM Emas Index declined 94.18 points to 12,197.83 and the FBM Top 100 Index shed 99.00 points to 11,985.44.
The FBM Emas Shariah Index weakened 87.69 points to 12,088.65, while the FBM ACE Index contracted 31.14 points to 5,503.14.
Sector-wise, the Industrial Products and Services Index slipped 1.16 points to 178.80, the Energy Index eased 7.79 points to 837.91, the Financial Services Index fell 148.77 points to 19,067.72 and the Plantation Index retreated 121.85 points to 9,074.82.
-- BERNAMA