Bursa Malaysia Ends Marginally Lower Ahead Of US Fed Rate Decision

By Abdul Hamid A Rahman

KUALA LUMPUR, Oct 29 (Bernama) -- Bursa Malaysia ended marginally lower today as investors remained cautious ahead of the United States (US) Federal Reserve’s interest rate decision later tonight.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 2.02 points, or 0.13 per cent, to 1,611.54 from Tuesday’s close of 1,613.56.

The benchmark index opened 1.01 points higher at 1,614.57 and moved between 1,606.44 and 1,617.02 throughout the trading session.

Market breadth was negative with 546 losers beating 443 gainers, while 529 counters were unchanged, 1,218 untraded, and 77 suspended.

Turnover dwindled to 2.73 billion units worth RM2.37 billion compared with 3.86 billion units worth RM3.03 billion on Tuesday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI closed slightly lower amid persistent selling in telecommunications, consumer, and plantation counters, although losses were capped by strong support around the 1,610 level.

“The benchmark index remained well supported above the 1,600-point level, reflecting the underlying resilience despite cautious sentiment ahead of the crucial policy announcement,” he told Bernama.

Regionally, Thong added that key markets ended mixed, with buying interest seen in technology and artificial intelligence-related stocks, while commodity-linked counters experienced profit-taking.

Among the heavyweights, Tenaga Nasional rose eight sen to RM13.30, while Maybank and CIMB Group inched down one sen each to RM9.87 and RM7.38 respectively, Public Bank lost two sen to RM4.19, and IHH Healthcare decreased three sen to RM8.25.

On the most active list, Zetrix AI slid two sen to 81.5 sen, Perak Transit eased one sen to 38.5 sen, and Ekovest trimmed 2.5 sen to 35.5 sen, while Tanco Holdings added two sen to 92.5 sen, and Borneo Oil was flat at half-a-sen.

Top gainers included Nestle which surged RM2.10 to RM109.20, Malayan Cement rose 33 sen to RM6.75, Chin Teck Plantations advanced 32 sen to RM11.32, United Plantations climbed 20 sen to RM24.28, and Dufu Technology gained 15 sen to RM1.88.

Among top losers, Malaysian Pacific Industries dropped 50 sen to RM31.12, Bintulu Port Holdings declined 21 sen to RM5.05, Petronas Dagangan shed 16 sen to RM22.30, Ecomate Holdings slipped 11 sen to RM1.41, and Dutch Lady dipped 10 sen to RM26.20.

-- BERNAMA