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FBM KLCI Slips by Midday as US Inflation Concerns Linger

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Bursa Malaysia’s FBM KLCI drops 6.43 points by midday, nearing 1,600
Bursa Malaysia’s FBM KLCI drops 6.43 points by midday, nearing 1,600
Bursa Malaysia’s $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ continued its downward trajectory at midday, falling by 6.43 points to 1,602.54. The index hovered near the psychological 1,600 mark as profit-taking intensified, particularly in $Bursa Health Care (0062I.MY)$ and $Bursa Industrial Products & Services (0002I.MY)$ sectors. This decline mirrors the cautious sentiment ahead of the U.S. inflation report, which is expected to influence Federal Reserve policy.
Broader Market Sentiment

The market breadth was notably negative, with 560 decliners outpacing 337 gainers and 495 counters unchanged. Trading volume reached 1.51 billion shares valued at RM1.14 billion. Investors remained wary amid regional market jitters, with key indices in Japan and Singapore also reporting declines. However, China’s composite index recorded modest gains.

Sectoral and Stock Movements

$Bursa Health Care (0062I.MY)$ heavyweight $IHH (5225.MY)$ led losses, sliding 33 sen to RM7.11, while $SUNWAY (5211.MY)$ and $HLBANK (5819.MY)$ fell by 18 sen and 24 sen, respectively. $Bursa Consumer Products & Services (0001I.MY)$ gains offered some respite, with $NESTLE (4707.MY)$ surging RM1.40 to RM98.20, $DLADY (3026.MY)$ up 66 sen to RM30.96, and $HEIM (3255.MY)$ adding 28 sen to RM23.98.
Dagang NeXchange and SNS Network lead trading activity as Velesto stays unchanged
Dagang NeXchange and SNS Network lead trading activity as Velesto stays unchanged
Active Counters and Trading Highlights

Top active stocks included $DNEX (4456.MY)$, rising four sen to 39.5 sen, and $SNS (0259.MY)$ , gaining 1.5 sen to 58.5 sen. Meanwhile, $VELESTO (5243.MY)$ remained unchanged at 15.5 sen. The broader $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$ declined 56.13 points to 18,437.67, signaling weakness across mid-cap stocks.

Regional and Global Influences

Asian markets faced broad declines as fears of persistently high U.S. inflation spooked investors. Japan’s $Nikkei 225 (.N225.JP)$ dropped 0.34%, and Singapore’s $FTSE Singapore Straits Time Index (.STI.SG)$ shed 0.5%. Meanwhile, global markets await the U.S. Consumer Price Index report, critical for shaping expectations on future interest rate adjustments.
Construction and technology sectors retain interest amid subdued broader sentiment
Construction and technology sectors retain interest amid subdued broader sentiment
Sector Outlook

$Bursa Construction (0003I.MY)$ and $Bursa Technology (0005I.MY)$ sectors continue to garner attention due to increased earnings visibility from ongoing data center projects and related midstream industries. Meanwhile, glove counters exhibited strong momentum, offering potential trading opportunities in an otherwise subdued market.

Conclusion

Bursa Malaysia remains under pressure as local sentiment is influenced by global economic uncertainties and profit-taking activities. As the index inches closer to the critical 1,600 level, investors will look toward regional developments and upcoming U.S. economic data for direction. The mixed performance across sectors underscores a cautious market outlook.
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