Kuala Lumpur:Bursa Malaysia extended its downtrend at midday, influenced by selling pressure and a mixed global market performance, as risk sentiment remained restrained by the continuous rise in United States Treasury yields.
According to BERNAMA News Agency, at 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 15.36 points to 1,635.81 from the previous day's close of 1,651.17. The benchmark index opened 1.30 points lower at 1,649.87 and ranged between 1,634.39 and 1,649.87 during the morning session.
On the broader market, decliners outnumbered gainers by 583 to 305, with 464 counters unchanged, 1,421 untraded, and 12 suspended. The turnover was 1.65 billion shares worth RM1.18 billion.
Apex Securities Bhd noted that market sentiment was further dampened by stronger-than-expected US private-sector hiring, which increased by 90,000 in September. This situation offset the relief from softer core Personal Consumption Expenditures inflation. Investors are now looking towards the upcoming September non-farm payrolls for guidance on the US Federal Reserve's next steps, while stalled US-Iran negotiations keep oil prices volatile, and mainland Chinese markets remain closed for the Golden Week holiday.
The stockbroking firm anticipates that the FBM KLCI will trade cautiously ahead of the US jobs data report, with a more sustained recovery contingent on a pullback in US bond yields and progress in US-Iran talks.
Among the heavyweights, Maybank and Tenaga Nasional both decreased by six sen to RM9.93 and RM12.90, respectively. Public Bank lost four sen to RM4.66, CIMB fell five sen to RM7.74, and IHH Healthcare declined 19 sen to RM7.64.
In active trading, Zetrix AI and V.S Industry both rose half a sen to 16.5 sen and 28.5 sen, respectively. Jaks Resources decreased half a sen to 20 sen, ACE Market debutant GB Bond fell 2.5 sen to 22.5 sen, and Dagang Nexchange increased 1.5 sen to 50 sen.
Among the top gainers, Malaysian Pacific Industries advanced RM1.26 to RM41.66, MI Technovation rose 13 sen to RM5.33, Ta Ann gained 12 sen to RM5.92, Malayan Cement increased 11 sen to RM5.56, and Genting Plantations improved 10 sen to RM5.63.
Kuala Lumpur Kepong led the decliners, dropping 76 sen to RM21.44. Allianz Malaysia shed 62 sen to RM21, while Fraser and Neave, Hong Leong Industries, and Batu Kawan all fell 42 sen to RM21.32, RM16.04, and RM20.10, respectively.
On the index board, the FBM Mid 70 Index fell 87.65 points to 17,487.02, the FBM Emas Index declined 94.18 points to 12,197.83, and the FBM Top 100 Index lost 99.00 points to 11,985.44. The FBM Emas Shariah Index weakened 87.69 points to 12,088.65, while the FBM ACE Index contracted 31.14 points to 5,503.14.
In sectoral performance, the Industrial Products and Services Index slipped 1.16 points to 178.80, the Energy Index eased 7.79 points to 837.91, the Financial Services Index fell 148.77 points to 19,067.72, and the Plantation Index retreated 121.85 points to 9,074.82.