Bursa Malaysia opened mixed as gains in selected heavyweight counters lifted the benchmark FBM KLCI, while broader market indices remained under pressure amid cautious investor sentiment ahead of key US inflation data.
At the opening bell, the FBM KLCI rose 2.07 points, or 0.12%, to 1,677.57 after trading between 1,673.64 and 1,677.57.
The broader market was weaker, with the FBM Top 100 Index slipping 0.02% to 12,289.41, the FBM 70 Index falling 0.44% to 17,921.83 and the FBM Small Cap Index declining 0.39% to 15,228.55. The FBM Emas Index eased 0.04% to 12,447.15.
Sector performance was mixed. The Energy Index led declines, falling 0.70% to 782.15, while the Consumer Products and Services Index slipped 0.12% to 484.83. The Construction Index was largely unchanged at 278.61.
Market sentiment remained cautious after Wall Street closed mixed overnight. The Nasdaq Composite fell nearly 1% as technology stocks resumed their decline, while investors continued to monitor developments in the Middle East and awaited the release of US consumer price index data later tonight for clues on the Federal Reserve’s interest rate direction.
Among actively traded counters, Hong Seng gained 0.5 sen to 2 sen with nearly 798 million shares changing hands. Tanco remained in focus after Tuesday’s sharp sell-off, falling a further 16 sen to 64 sen despite being the second most actively traded stock with 169.4 million shares transacted. L&G slipped 0.5 sen to 16 sen, while Capital A lost 1.5 sen to 40 sen.
On the gainers list, CEPCO rose 20 sen to RM5.10, followed by Ajinomoto, which added 12 sen to RM15.60. Tenaga Nasional gained six sen to RM14.20, while IOI Corporation and ITMAX each advanced five sen to RM4.27 and RM4.83 respectively.
Nestlé led the losers, falling RM1.06 to RM93.38. Petronas Dagangan declined 18 sen to RM18.42, while KGB and Unisem each lost 13 sen to RM7.52 and RM4.70 respectively.
Investors are expected to remain cautious throughout the day as they assess global market developments, geopolitical risks and the upcoming US inflation report, which could influence expectations for future interest rate movements.
