FBM KLCI Opens Slightly Higher, Retreats Thereafter
KUALA LUMPUR, July 11 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) opened slightly higher but retreated thereafter on Friday, amid a mixed regional market trend coupled with a lack of fresh catalysts, said an analyst.
At 9.10 am, the benchmark index edged up 0.91 of a point, or 0.06 per cent, to 1,536.61 from Thursday’s close of 1,536.52.
The benchmark index had earlier opened 1.36 points higher at 1,537.88.
However, market breadth was positive, with gainers outpacing losers 143 to 139, while 267 counters were unchanged, 1,869 untraded, and 10 suspended.
Turnover stood at 121.49 million shares worth RM58.81 million.
Malacca Securities Sdn Bhd said buying support may spill over to the local bourse, especially the technology sector, given the sustained semiconductor rally.
“Investors may monitor the property sector, as a lower interest rate environment may boost the property market sentiment, after Bank Negara Malaysia’s (BNM) decision to reduce the overnight policy rate (OPR) by 25 basis points,” the brokerage said in a note today.
It noted that Wall Street advanced overnight as the United States (US) Federal Reserve reaffirmed potential rate cuts this year, although President Donald Trump’s fresh tariff threats on Brazil and copper imports kept tensions and sector-specific risks in focus.
Among heavyweights, Maybank was up one sen to RM9.74, Tenaga Nasional rose two sen to RM13.98, but CIMB fell one sen to RM6.69, while Public Bank and IHH Healthcare were flat at RM4.30 and RM6.65, respectively.
In active trade, ACE Market debutant A1 AK Koh remained flat at its 25 sen IPO price, Zetrix AI gained 1.5 sen to 99.5 sen, NexG garnered half-a-sen to 45 sen, Muhibbah climbed 3.5 sen to 65.5 sen, while TWL was half-a-sen lower at 2.5 sen.
On the broader index board, the FBM Emas Index eased 2.72 points to 11,525.61, the FBMT 100 Index decreased 3.33 points to 11,289.80, and the FBM Emas Shariah Index was up 2.95 points at 11,511.69.
The FBM 70 Index climbed 9.90 points to 16,665.50, while the FBM ACE Index inched up 5.85 points to 4,522.42.
By sector, the Financial Services Index declined 6.69 points to 17,615.69, the Industrial Products and Services Index narrowed 0.18 of a point to 153.36, the Plantation Index eased 1.74 points to 7,459.52, but the Energy Index ticked up 0.15 of a point to 736.77.
-- BERNAMA
