Bursa Malaysia opened largely steady, with the FBM KLCI edging down 0.05 points to 1,750.51 at 9.04 am as investors tracked cautious regional sentiment following a softer Wall Street close overnight.
Broader market indices were mostly weaker at the open. The FBM70 fell 0.25% to 18,486.49, while the FBMEMAS slipped 0.05% to 12,948.42 and the FBMSHA eased 0.06% to 12,867.14. The F4GBM index also edged lower by 0.05% to 1,045.84.
Sentiment was weighed by a weaker US lead, after the S&P 500 and Nasdaq closed lower on Tuesday as hotter-than-expected US inflation data and renewed geopolitical concerns over the Iran conflict pressured risk appetite. The Nasdaq dropped 0.71% while the S&P 500 fell 0.16%, although the Dow Jones Industrial Average managed a modest gain.
Technology stocks were the main drag on Wall Street, with semiconductor shares leading losses after the PHLX Semiconductor Index declined 3%. Concerns over persistent inflation, linked partly to elevated oil prices and Strait of Hormuz disruptions, also added to expectations that US interest rates may stay higher for longer.
On Bursa Malaysia, trading activity at the open showed mixed sentiment across mid- and small-cap counters. GIIB and GENETEC were among the most active movers, while VS was unchanged and SEALINK and KRONO posted modest gains.
Among index-linked stocks, DKSH and SUNCON were among early gainers, while losses were seen in counters such as HLIND, TM, KESM, PETGAS and TENAGA.
Despite the cautious tone, selective buying in industrial and construction-related names helped cushion broader weakness as investors continued to digest global macroeconomic signals and shifting US rate expectations.
