Bursa Opens Higher But Gains Fade As Wall Street Weakness Weighs

Bursa Malaysia opened firmer on Sept 1, but early gains quickly narrowed as investors tracked Wall Street’s weaker overnight performance.

At 9.01am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.64 points, or 0.1%, to 1,727.52 from its close of 1,725.88 on Aug 28.

Broader indices were also positive, with the FBM 70 gaining 31.68 points to 18,078.57, the FBM Emas rising 15.58 points to 12,780.21, while the FBM Shariah advanced 28.56 points to 12,580.65. The F4GBM added 1.34 points to 1,037.31.

Despite the higher benchmark, market breadth remained weak as decliners outnumbered gainers 352 to 188, while 319 counters were unchanged in early trading.

Nestle (M) Bhd led the decliners, falling 30 sen to RM99.80, while Tenaga Nasional Bhd slipped 16 sen to RM13.98 and Maybank lost 14 sen to RM10.54.

On the upside, Hengyuan Refining Co Bhd led the gainers as the counter jumped 37 sen to RM2.32, followed by MISC Bhd, which rose 32 sen to RM8.24, and Petronas Dagangan Bhd gained 20 sen to RM20.50.

Zetrix AI Bhd, on the other hand, was the most actively traded counter, plunging 11.5 sen to 18 sen on 206.18 million shares. Ni Hsin Group Bhd gained two sen to 21.5 sen, while HHRG Bhd and MAG Holdings Bhd each added half a sen to 13.5 sen and 16 sen respectively. Aimflex Bhd slipped half a sen to 12.5 sen.

Turnover stood at 788.49 million shares worth RM318.3 million.

Latest News

Must read