KUALA LUMPUR, Oct 7 — Bursa Malaysia continued its downtrend at midday in line with regional markets amid persistent selling pressure and elevated oil prices.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 19.39 points, or 1.19 per cent, to 1,613.96 from Tuesday’s close of 1,633.35.
The benchmark index opened 0.19 of a point firmer at 1,633.54, which was its highest level in the morning session, and fell as low as 1,612.42.
In the broader market, decliners led gainers 580 to 401, with 512 counters unchanged, 1,297 untraded and 13 suspended.
Turnover stood at 2.37 billion units worth RM1.7 billion.
Hong Leong Investment Bank (HLIB) said Brent crude oil rose 0.5 per cent to about US$101 per barrel as Houthi missile and Iranian tanker attacks outweighed improving supply flows from Saudi Arabia and G7 reserves.
At the time of writing, Brent crude was up 1.02 per cent to US$101.60 a barrel.
“Focus this week shifts to third-quarter earnings, alongside Federal Open Market Committee minutes and preliminary October consumer sentiment,” HLIB said in a note today.
It said that ahead of Budget 2027 on October 9, United States-Iran tensions and a hawkish Federal Reserve narrative could keep the FBM KLCI in risk-off consolidation, amid elevated oil prices, surging bond yields and persistent foreign outflows.
Meanwhile, the Melaka polls could add to political uncertainty while offering clues on voter sentiment, coalition dynamics and seat negotiations, amid speculation of an early 16th general election, it said.
The Election Commission announced that nomination would be held on October 31, with polling set for Nov 14 for the Melaka state election.
Among the heavyweights, Maybank and Public Bank decreased two sen each to RM9.89 and RM4.59, and CIMB fell 38 sen to RM7.32, while Tenaga Nasional added six sen to RM12.96 and IHH Healthcare was flat at RM7.91.
In active trade, Top Glove slid two sen to 85.5 sen, Zetrix AI edged down one sen to eight sen, and VS Industry eased half a sen to 32.5 sen, while Metronic Global and Supermax were both flat at half a sen and 46 sen, respectively.
Among the top gainers, Mi Technovation surged 36 sen to RM6.36, Batu Kawan climbed 32 sen to RM19.60, Malaysian Pacific Industries advanced 26 sen to RM45.22, Petronas Dagangan put on 22 sen to RM19.34, and Critical Holdings rose 20 sen to RM2.89.
Nestle led the top decliners, falling RM1.56 to RM89.70, while Hong Leong Bank declined 62 sen to RM21.46, Fraser & Neave lost 58 sen to RM21.14, CIMB erased 38 sen to RM7.32, and Hong Leong Financial Group gave up 36 sen to RM17.98.
On the index board, the FBM Mid 70 Index increased 12.08 points to 17,746.19, the FBM Emas Index reduced 95.40 points to 12,137.47, the FBM Top 100 Index trimmed 103.25 points to 11,912.53, the FBM Emas Shariah Index rose 3.55 points to 12,162.53, and the FBM ACE Index edged down 10.69 points to 5,648.23.
Sector-wise, the Industrial Products and Services Index inched up 0.19 of a point to 180.60, the Energy Index improved 3.50 points to 844.22, the Plantation Index shrank 57.92 points to 8,984.25, and the Financial Services Index retreated 477.86 points to 18,590.14. — Bernama
