Bursa Malaysia Opens Lower Amid Weak Wall Street Performance
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Bursa Malaysia opened lower on Friday, mirroring the weak performance of Wall Street overnight. Investors remained cautious, with market sentiment influenced by the upcoming U.S. Federal Reserve Chairman Jerome Powell’s speech at the Jackson Hole Symposium later in the day. At 9:10 AM, $FTSE Bursa Malaysia KLCI Index (.KLSE.GI)$ declined 3.32 points to 1,638.34, down from the previous close of 1,641.66. The index opened slightly higher at 1,643.33, but losses quickly followed.
Market Breadth
Decliners outnumbered gainers by 311 to 118, with 246 counters unchanged and 1,833 counters untraded. Turnover amounted to 212.14 million units, valued at RM133.99 million.
Key Sector and Stock Movements
• Heavyweight Stocks
• $MAYBANK (1155.BMS)$: Rose by 6.0 sen to RM10.50.
• $IHH (5225.BMS)$: Increased by 3.0 sen to RM6.35.
• $PBBANK (1295.BMS)$: Fell by 3.0 sen to RM4.56.
• $CIMB (1023.BMS)$: Dropped 9.0 sen to RM7.80.
• $TENAGA (5347.BMS)$: Declined 8.0 sen to RM13.78.
Market Breadth
Decliners outnumbered gainers by 311 to 118, with 246 counters unchanged and 1,833 counters untraded. Turnover amounted to 212.14 million units, valued at RM133.99 million.
Key Sector and Stock Movements
• Heavyweight Stocks
• $MAYBANK (1155.BMS)$: Rose by 6.0 sen to RM10.50.
• $IHH (5225.BMS)$: Increased by 3.0 sen to RM6.35.
• $PBBANK (1295.BMS)$: Fell by 3.0 sen to RM4.56.
• $CIMB (1023.BMS)$: Dropped 9.0 sen to RM7.80.
• $TENAGA (5347.BMS)$: Declined 8.0 sen to RM13.78.
• Active Counters
• $EPB (0317.BMS)$: Debuted on the ACE Market, rising 6.5 sen to 62.5 sen.
• $ELRIDGE (0318.BMS)$: Gained 1.0 sen to 41.0 sen.
• $CEB (5311.BMS)$: Increased by half-a-sen to 40.5 sen.
• $GENETEC (0104.BMS)$: Fell 9.0 sen to RM1.33.
• $MSM (5202.BMS)$: Dropped 10.0 sen to RM1.38.
Index Performance
• $EPB (0317.BMS)$: Debuted on the ACE Market, rising 6.5 sen to 62.5 sen.
• $ELRIDGE (0318.BMS)$: Gained 1.0 sen to 41.0 sen.
• $CEB (5311.BMS)$: Increased by half-a-sen to 40.5 sen.
• $GENETEC (0104.BMS)$: Fell 9.0 sen to RM1.33.
• $MSM (5202.BMS)$: Dropped 10.0 sen to RM1.38.
Index Performance
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.GI)$: Fell by 29.48 points to 12,396.76.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.GI)$: Dropped 30.53 points to 12,061.78.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.GI)$: Lost 14.50 points to 12,360.93.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.GI)$: Declined 67.81 points to 17,894.31.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.GI)$: Slid 36.70 points to 5,237.44.
Sectoral Indices
• $Bursa Plantation (0025I.BMS)$: Rose 8.27 points to 7,207.52.
• $Bursa Energy (0061I.BMS)$: Gained 5.30 points to 925.95.
• $Bursa Industrial Products & Services (0002I.BMS)$: Edged down by 0.23 points to 183.15.
• $Bursa Finance Services (0010I.BMS)$: Fell 37.22 points to 19,070.10.
Market Sentiment
Market activity remained cautious as traders awaited Powell’s speech, which could provide further direction on the Fed’s future monetary policy. Weakness in the U.S. job market data added to the overall apprehension, with U.S. job figures revised down by 818,000, raising concerns about economic stability.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.GI)$: Dropped 30.53 points to 12,061.78.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.GI)$: Lost 14.50 points to 12,360.93.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.GI)$: Declined 67.81 points to 17,894.31.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.GI)$: Slid 36.70 points to 5,237.44.
Sectoral Indices
• $Bursa Plantation (0025I.BMS)$: Rose 8.27 points to 7,207.52.
• $Bursa Energy (0061I.BMS)$: Gained 5.30 points to 925.95.
• $Bursa Industrial Products & Services (0002I.BMS)$: Edged down by 0.23 points to 183.15.
• $Bursa Finance Services (0010I.BMS)$: Fell 37.22 points to 19,070.10.
Market Sentiment
Market activity remained cautious as traders awaited Powell’s speech, which could provide further direction on the Fed’s future monetary policy. Weakness in the U.S. job market data added to the overall apprehension, with U.S. job figures revised down by 818,000, raising concerns about economic stability.
Despite the weak sentiment, the local bourse showed resilience earlier in the week, supported by foreign fund buying, though retail participation remained low due to a preference for new initial public offerings (IPOs), which have drawn liquidity from the market.
Outlook
The market is expected to remain range-bound, with $FTSE Bursa Malaysia KLCI Index (.KLSE.GI)$ likely to trade within the 1,640-1,650 range as investors continue to monitor both domestic and global developments.
Outlook
The market is expected to remain range-bound, with $FTSE Bursa Malaysia KLCI Index (.KLSE.GI)$ likely to trade within the 1,640-1,650 range as investors continue to monitor both domestic and global developments.
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