Kuala Lumpur:Bursa Malaysia's key index experienced volatile trading in the initial minutes, fluctuating between positive and negative zones before eventually trending higher, reflecting the mixed outcomes on Wall Street from the previous night.
According to BERNAMA News Agency, at 9.18 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased by 2.97 points to stand at 1,622.48, compared to the previous day's closing value of 1,619.51. The benchmark index had opened 1.25 points higher at 1,620.76.
In the broader market, decliners outnumbered gainers with 291 to 150, while 282 counters remained unchanged, 2,000 were not traded, and 11 were suspended. The turnover was recorded at 276.83 million units worth RM178.87 million.
Rakuten Trade Sdn Bhd's vice-president of equity research, Thong Pak Leng, noted that Wall Street ended mixed as technology stocks continued to decline, despite a reduction in crude oil prices to below US$105 per barrel due to hopes for resumed peace talks between the United States and Iran. He added that the FBM KLCI had closed higher the previous day despite a weak start, buoyed by bargain hunters and sporadic foreign buying. Thong also mentioned expectations of muted trading in anticipation of the US mid-term elections, predicting that the index would hover between the 1,615-1,625 range.
In terms of significant stocks, Maybank increased by six sen to RM10.04, Public Bank gained two sen to RM4.81, and CIMB rose by four sen to RM6.96. Meanwhile, Tenaga Nasional decreased by two sen to RM13.28, and IHH Healthcare dropped seven sen to RM7.78.
Active trading saw GIIB and Datasonic rise by half a sen to 50.5 sen and 27 sen, respectively, while AirAsia improved by 3.5 sen to 48 sen. Nationgate fell nine sen to RM1.97, and Ni Hsin decreased by half a sen to 33.5 sen.
Nestle led the top gainers with an increase of 42 sen to RM96.54, followed by Hong Leong Bank rising 20 sen to RM21.38, RHB Bank gaining 17 sen to RM7.67, AMMB climbing 15 sen to RM6.42, and United Plantations adding 10 sen to RM29.40.
Among the top losers, MPI decreased by 58 sen to RM39.20, Mi Technovation dropped by 29 sen to RM6.01, Vitrox Corporation lost 26 sen to RM10.22, Hengyuan Refining slipped 19 sen to RM3.64, and UWC fell 16 sen to RM6.93.
On the index board, the FBM Emas Index decreased by 1.30 points to 12,071.00, while the FBM Top 100 Index added 2.38 points to 11,881.66. The FBM Mid 70 Index fell 77.63 points to 17,309.95, the FBM Emas Shariah Index was down 45.71 points to 12,055.82, and the FBM ACE Index dropped 29.57 points to 5,313.42.
Sector-wise, the Industrial Products and Services Index decreased by 1.17 points to 177.60, the Energy Index declined by 6.71 points to 830.18, the Financial Services Index increased by 137.10 points to 18,706.51, and the Plantation Index rose by 12.78 points to 8,715.02.