Kuala lumpur: Bursa Malaysia slipped during the morning session as investors opted to book profits in anticipation of the US Federal Reserve's interest rate decision, aligning with the restrained sentiment observed across regional markets.
According to BERNAMA News Agency, the FTSE Bursa Malaysia KLCI (FBM KLCI) decreased by 4.71 points, or 0.29 per cent, to 1,609.46 at midday, having opened slightly lower at 1,611.04. The benchmark index traded between 1,606.11 and 1,611.04 in the morning session, following a close of 1,614.17 the previous day.
The market saw 446 decliners against 389 gainers, with 541 counters remaining unchanged, 1,373 untraded, and 12 suspended. Market turnover reached 2.55 billion shares, valued at RM1.09 billion.
In the regional context, major indices also faced declines. China's SSE Composite Index fell by 0.72 per cent to 3,881.51, Hong Kong's Hang Seng Index dropped 0.43 per cent to 25,325.05, Singapore's Straits Times Index decreased 0.32 per cent to 4,498.59, and Japan's Nikkei 225 edged down 0.10 per cent to 50,603.98.
Malacca Securities Sdn Bhd indicated that the FBM KLCI is expected to remain subdued ahead of the Federal Open Market Committee (FOMC) meeting's conclusion. The FOMC, which started its two-day policy meeting yesterday, is set to announce its decision today. The Chicago Mercantile Exchange FedWatch Tool suggests an 87.6 per cent probability of a rate cut, though policymakers might still consider a 'hawkish cut' due to strong labor indicators and limited fresh data following the government shutdown. The brokerage expects clearer market direction only after the Fed's announcement.
In terms of specific stocks, Maybank remained steady at RM10.10, Public Bank increased by one sen to RM4.38, CIMB Group declined by four sen to RM7.81, IHH Healthcare fell by 12 sen to RM8.41, and Tenaga Nasional rose by four sen to RM12.74.
Among active stocks, Velesto Energy added two sen to 27.5 sen, Zetrix AI increased by 3.5 sen to 84 sen, Borneo Oil remained flat at half-a-sen, Lac Med, which debuted on the Main Market, rose two sen to 77 sen, and TWL Holdings held steady at 2.5 sen.
Top gainers included DKSH, which increased by 66 sen to RM5.93; Dutch Lady, which rose 34 sen to RM30.34; Allianz Malaysia, up 32 sen to RM19.98; Petronas Dagangan, which added 24 sen to RM19.22; and UWC, which gained 20 sen to RM3.97.
Conversely, top decliners were led by BLD Plantation, which fell 50 sen to RM16.00, followed by Hong Leong Industries, which dropped 30 sen to RM15.70, Fraser and Neave, which decreased 20 sen to RM35.00, Press Metal, which slipped 13 sen to RM6.71, and Telekom Malaysia, which shed 11 sen to RM7.69.
On the index board, the FBM Emas Index declined by 23.52 points to 11,909.68, the FBM Emas Shariah Index decreased by 13.87 points to 11,780.80, the FBMT 100 Index fell by 27.71 points to 11,693.27, the FBM ACE Index dropped by 27.80 points to 4,726.49, and the FBM 70 Index decreased by 10.56 points to 16,653.94.
By sector, the Financial Services Index fell by 34.58 points to 18,895.60, the Plantation Index decreased by 11.06 points to 8,070.52, while the Energy Index increased by 3.38 points to 755.31, and the Industrial Products and Services Index added 0.11 of-a-point to 166.59.