Bursa Malaysia opened lower on Tuesday, with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slipping as investors remained cautious despite gains on Wall Street driven by renewed enthusiasm over artificial intelligence (AI) stocks.
At 9.52am, the FBM KLCI stood at 1,678.48 points, down 5.05 points or 0.30% from Monday’s close. The index opened at 1,683.42 before moving between an intraday high of 1,684.19 and a low of 1,678.21.
The broader market was mixed, with the FBM70 index gaining 23.10 points or 0.13% to 17,828.74, while the FBMEMAS index eased 21.86 points or 0.18% to 12,450.86.
The FBM Small Cap index also edged lower by 12.36 points or 0.10% to 12,275.26, while the FTSE4Good Bursa Malaysia Index declined 1.92 points or 0.19% to 1,009.43.
Market sentiment was influenced by Wall Street’s stronger performance overnight, where the S&P 500 and Nasdaq Composite advanced 0.72% and 1.12% respectively, supported by gains in technology stocks after Broadcom extended its chip partnership with Apple.
The rally in AI-related stocks lifted semiconductor counters, with investors turning their attention towards upcoming second quarter earnings and continued demand for AI infrastructure.
However, concerns over the US Federal Reserve’s interest rate outlook remained in focus after Fed officials reiterated their commitment to bringing inflation back towards its 2% target, keeping expectations of higher-for-longer rates alive.
On Bursa, technology-related counters showed mixed movements in early trade, with MPI emerging as the top gainer, rising RM0.98 to RM46.80.
Other notable gainers included Nestle (Malaysia) Bhd, which gained RM0.14 to RM90.90, Unisem (M) Bhd which added RM0.11 to RM4.62, ViTrox Corporation Bhd which increased RM0.10 to RM7.73 and Carlsberg Brewery Malaysia Bhd which rose RM0.08 to RM16.34.
Among the biggest decliners, Kuala Lumpur Kepong Bhd fell RM0.12 to RM21.44, while Fraser & Neave Holdings Bhd, MISC Bhd and PPB Group Bhd each declined RM0.10.
In the most actively traded category, Rest N Go Bhd topped the list, gaining half a sen to 13.5 sen with 502.61 million shares traded.
It was followed by Tanco Holdings Bhd at 18.5 sen with 229.12 million shares, EFFICEN Bhd at 11.5 sen with 199.13 million shares, Asdion Bhd at 0.5 sen with 186.83 million shares and Permaju Industries Bhd at 1 sen with 138.60 million shares.
