Bursa Malaysia Opens Flat, Broader Market Negative
KUALA LUMPUR, June 10 (Bernama) -- Bursa Malaysia traded flat at the opening today as traders mostly stayed on the sidelines amid the prevailing market uncertainty, ahead of the outcome of trade negotiations between China and the United States.
At 9.06 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) tilted down 0.19 of a point to 1,519.22 from Monday’s close of 1,519.41. The benchmark index opened at 1,519.71, higher by 0.30 of a point.
The broader market was negative, with decliners outpacing gainers 123 to 109. A total of 232 counters were unchanged, 1,905 untraded and 11 suspended. Turnover stood at 105.27 million units, valued at RM53.92 million.
Rakuten Trade Sdn Bhd noted that the FBM KLCI managed to climb higher yesterday amid persistent foreign selling, as their attention is diverted to other regional markets. “No thanks to US President Trump’s flip-flop tariff policy, the consensus has downgraded the overall earnings of corporate Malaysia, namely the banks, hence the lacklustre interest in local equities. For today, we anticipate the index to trend within the 1,515 to 1,525 range,” it said in a research note.
Among the heavyweight counters, 99 Speed Mart added eight sen to RM2.18, Public Bank rose two sen to RM4.80, and Petronas Gas was 14 sen better at RM18.28. RHB was four sen higher at RM6.40, and Maybank added one sen to RM9.69.
Among the most active stocks, NEXG and Velesto were flat at 37 sen and 18.5 sen, respectively, while Main Market debutant Paradigm REIT was unchanged at RM1. SFP Tech was also unchanged at 23 sen, and Hartanah Kenyalang added one sen to 15.5 sen.
On the index board, the FBM Emas Index shed 3.90 points to 11,389.29, the FBMT 100 Index fell 3.52 points to 11,154.95, and the FBM Emas Shariah Index dropped 9.36 points to 11,354.68.
The FBM 70 Index fell 13.70 points to 16,395.61 and the FBM ACE Index shaved 0.47 of a point to 4,511.66.
Sector-wise, the Financial Services Index ticked up 24.84 points to 17,757.04, but the Energy Index trimmed 3.37 points to 717.49. The Industrial Products and Services Index was down 0.47 of a point to 151.87, and the Plantation Index gained 5.28 points to 7,254.11.
-- BERNAMA