Bursa Malaysia Slips After Higher Opening
By K. Naveen Prabu & Danni Haizal Danial Donald
KUALA LUMPUR, Oct 30 (Bernama) -- Bursa Malaysia slipped into negative territory on Friday after opening slightly higher, tracking weaker overnight sentiment on Wall Street amid disappointing technology earnings.
At 9.13 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.66 of a point, or 0.04 per cent, to 1,610.50 from Thursday’s close of 1,611.16.
The benchmark index had opened 0.70 of a point higher at 1,611.86.
Across the broader market, losers outnumbered gainers 265 to 107, while 265 counters were unchanged, 2,143 remained untraded and 66 were suspended.
Turnover stood at 291.30 million units worth RM95.01 million.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Wall Street closed mostly lower following weaker earnings from US technology giant Alphabet Inc, reigniting concerns over the substantial capital expenditure required for artificial intelligence (AI) investments.
"On the home front, we believe the benchmark index remains in consolidation mode, with fundamentally sound blue chips offering selective opportunities following the recent correction.
"Hence, for today, we envisage the benchmark index hovering within the 1,600-1,620 range," he told Bernama.
Among heavyweight stocks, Maybank rose two sen to RM10.02, while CIMB gained seven sen to RM6.96 and IHH Healthcare added four sen to RM7.89. Public Bank shed one sen to RM4.72, while Tenaga Nasional was unchanged at RM13.30.
In active trade, Zetrix AI and JAKS Resources shed one sen each to seven sen and 14 sen, respectively. GIIB Holdings fell 10.5 sen to 43.5 sen, while Ni Hsin and EWI Capital gained one sen each to 38 sen and 14.5 sen, respectively.
Country View topped the gainers, rising 14 sen to RM2.85, followed by Kein Hing, which added six sen to RM1.08. Genting Plantations gained five sen to RM5.10, while Lianson Fleet rose four sen to RM1.52.
Among the top losers, Malaysian Pacific Industries fell 60 sen to RM40.90, while UWC Bhd shed 20 sen to RM7.44. MN Holdings declined 12 sen to RM3.83, while Pentamaster Corporation lost nine sen to RM5.80.
On the index board, the FBM Emas Index fell 17.00 points to 12,038.89, while the FBM Top 100 Index shed 15.29 points to 11,835.67. The FBM Mid 70 Index declined 66.17 points to 17,417.95, the FBM Emas Shariah Index lost 32.73 points to 12,051.55, and the FBM ACE Index slipped 32.61 points to 5,414.55.
Sector-wise, the Energy Index increased 0.28 of a point to 844.64, the Financial Services Index jumped 18.69 points to 18,556.63, while the Plantation Index added 18.44 points to 8,655.34. The Industrial Products and Services Index edged down 0.36 of a point to 177.03.
-- BERNAMA