Kuala Lumpur: Bursa Malaysia ended the morning session in negative territory due to continuous selling in heavyweight stocks, primarily led by utilities and financial services counters. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) decreased by 19.39 points, reaching 1,583.02, in contrast to Friday's close of 1,602.41. The benchmark index opened 3.45 points lower at 1,598.96, fluctuating between 1,582.01 and 1,599.36 during the session. Decliners outnumbered advancers by 886 to 179, with 356 counters remaining unchanged, 948 untraded, and 19 suspended. Turnover stood at 1.79 billion shares valued at RM1.22 billion.
According to BERNAMA News Agency, Malacca Securities Sdn Bhd noted that traders might pivot their focus toward the oil and gas (O and G) sector due to the surge in Brent crude oil prices. Export-oriented stocks could also see benefits from the strengthening US dollar, which currently hovers around a two-year high. However, the firm indicated that the potential upside for technology stocks might be limited following the announcement of further US restrictions on artificial intelligence chip exports to Malaysia. Despite these constraints, Malacca Securities highlighted that domestic-themed plays might gain prominence in the near term, particularly with the upcoming inauguration of US President Donald Trump on January 20.
The stockbroking firm identified several key themes to monitor, including the Johor-Singapore Special Economic Zone initiative, Penang's ongoing light rail transit project, and Sarawak's potential emergence as an energy hub. Among the heavyweights, Maybank remained flat at RM10.10, CIMB declined 18 sen to RM8.00, Public Bank eased one sen to RM4.43, and Tenaga fell 30 sen to RM13.80, while IHH Healthcare increased by four sen to RM7.10.
In the active stocks segment, Key Alliance and Velocity Capital each eased half a sen to 0.5 sen and eight sen, respectively, Swift Energy dropped two sen to 36.5 sen, and JCY International fell four sen to 49 sen. Velesto Energy remained unchanged at 16 sen. The FBM Emas Index declined 150.14 points to 12,152.62, the FBM Emas Shariah Index lost 152.86 points to 12,097.88, and the FBMT 100 Index decreased 144.76 points to 11,839.08. Additionally, the FBM 70 Index dropped 222.36 points to 18,245.17, while the FBM ACE Index fell 98.04 points to 5,255.43.
By sector, the Energy Index weakened by 3.86 points to 829.44, the Financial Services Index dipped 133.52 points to 18,791.02, the Industrial Products and Services Index edged down 2.39 points to 168.27, and the Plantation Index decreased by 58.99 points to 7,451.63.