Kuala Lumpur: Bursa Malaysia ended the midday session weaker as decliners outnumbered gainers, reflecting weak market sentiment and ongoing selling in index-linked counters. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) decreased by 12.79 points to 1,563.67 from the previous close of 1,576.46. The benchmark index opened higher at 1,582.33 but fluctuated between 1,564.26 and 1,586.21 throughout the session.
According to BERNAMA News Agency, the market breadth was negative with 882 losers compared to 147 gainers, while 364 counters remained unchanged, 982 were untraded, and 10 others were suspended. The total turnover was recorded at 2.16 billion units, valued at RM1.55 billion.
ActivTrades trader Anderson Alves noted that global market participants are closely observing the upcoming US consumer price index (CPI) data. Expectations suggest potential improvement in inflation trends, influenced by seasonal adjustments and trade policy decisions from the US President-elect Trump's administration. Despite strong jobs data last Friday, markets have adopted a slightly dovish approach towards the US CPI release. An unexpected increase in inflation could shift this stance, potentially impacting equities negatively as US bond yields near a critical five per cent level.
Alves further mentioned that short-term rates show limited market-implied US Federal Reserve rate cuts for 2025, with a full 25-basis-point reduction expected by September. Rate cut pricing at key intervals indicates minor adjustments, reflecting cautious sentiment as Trump's policies take effect.
In the local market, heavyweights such as Maybank fell by six sen to RM10.14, CIMB dropped 10 sen to RM7.87, and Tenaga declined 32 sen to RM13.50, while Public Bank remained stable at RM4.4 and IHH increased by two sen to RM7.10. Among active stocks, EA Holdings, Velocity Capital, and TWL Holdings remained unchanged at half-a-sen, eight sen, and three sen, respectively. In contrast, MYEG decreased by 3.5 sen to 90 sen, and YTL Corporation lost three sen to RM2.15.
On the broader indices, the FBM Emas Index decreased by 142 points to 11,974.97, the FBM Emas Shariah Index fell by 181.97 points to 11,871.56, and the FBMT 100 Index dropped 131.81 points to 11,669.82. The FBM 70 Index declined by 337.54 points to 17,893.36, while the FBM ACE Index reduced by 107.33 points to 5,170.17.
Sector-wise, the Energy Index fell by 9.94 points to 823.08, the Financial Services Index narrowed by 85.52 points to 18,677.30, the Industrial Products and Services Index went down by 1.70 points to 165.36, and the Plantation Index decreased by 25.30 points to 7,374.06.