KUALA LUMPUR, Oct 8 — Bursa Malaysia opened higher on Thursday but retreated shortly after, tracking weaker Wall Street performance overnight as sentiment was weighed down by surging US Treasury yields.

At 9.34am, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 10.55 points, or 0.65 per cent, to 1,601.23 from Wednesday’s close of 1,611.78. The index opened 1.67 points higher at 1,613.45.

On the broader market, losers outnumbered gainers 466 to 197, with 337 counters unchanged, 1,828 untraded and 13 suspended.

Turnover stood at 565.70 million units worth RM370.21 million.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the US 10-year Treasury yield touched a 24-year high of 5.365 per cent before easing to 5.286 per cent.

“As for Hong Kong equities, the Hang Seng Index declined after a two-day uptrend as sentiment turned cautious following a strengthening in crude oil prices, with Brent crude returning above the US$101 (RM412) per barrel threshold,” he told Bernama.

On the domestic front, he said the FBM KLCI was trading at a relatively low 15 times price-to-earnings ratio at Wednesday’s close, presenting an attractive opportunity for bargain hunting.

“Therefore, we expect the index to trend between the 1,605-1,620 range today,” he said.

Among the heavyweights, Tenaga Nasional added six sen to RM12.92, while Maybank and IHH Healthcare eased four sen each to RM9.83 and RM7.86, respectively. Public Bank slid five sen to RM4.54, while CIMB shed 13 sen to RM7.20.

In active trade, Ni Hsin and V.S Industry inched up half a sen each to 40 sen and 33 sen, respectively, while NationGate rose nine sen to RM1.95 and Top Glove gained two sen to 87.5 sen. Zetrix AI was flat at eight sen.

Among the top gainers, Binastra Corporation jumped 20 sen to RM2.70, while IOI Properties Group and Fraser & Neave gained 12 sen each to RM3.42 and RM20.90, respectively. Malayan Cement added eight sen to RM5.69, while KSL gained seven sen to RM2.64.

Among the top losers, Malaysian Pacific Industries fell 90 sen to RM44.30, Hong Leong Bank declined 44 sen to RM21.06, and Mi Technovation slipped 30 sen to RM6.08. Vitrox Corporation fell 22 sen to RM11.00, while Dutch Lady Milk Industries shed 20 sen to RM29.50.

On the index board, the FBM Mid 70 Index fell 81.68 points to 17,671.81, the FBM Emas Index lost 69.31 points to 12,055.64, the FBM Top 100 Index declined 71.81 points to 11,830.17, the FBM Emas Shariah Index fell 35.28 points to 12,111.87, and the FBM ACE Index edged down 23.98 points to 5,598.40.

Sector-wise, the Industrial Products and Services Index edged down 0.55 of a point to 179.33, the Energy Index slipped 1.72 points to 837.25, the Financial Services Index fell 203.87 points to 18,359.45, and the Plantation Index declined 26.92 points to 8,949.12. — Bernama