Bursa Malaysia Flat In Early Trade After Downbeat Wall St Performance
At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched down 0.29 of a point, or 0.02 per cent, to 1,525.11 from Tuesday's close of 1,525.40. The benchmark index opened 1.63 points lower at 1,523.77.
The market breadth was weaker, with decliners outnumbering gainers 178 to 108, while 282 counters were unchanged, 1,877 untraded, and eight suspended.
Turnover stood at 165.78 million shares worth RM85.02 million.
Malacca Securities Sdn Bhd said Wall Street's initial rally faded as hotter-than-expected inflation data failed to ease tariff concerns and increased bets that the US Federal Reserve will hold interest rates.
'Following Wall Street's downbeat performance, the local bourse could start on a weaker tone. However, we believe the overall situation may favour the technology stocks with the resumption of chip sales in China, and the technology sector on the local front may see decent buying interest,' it said in a note today.
The brokerage firm also favours the real estate investment trusts sector on the back of the recent Bank Negara Malaysia overnight policy rate cut, 'while the consumer sector may benefit from downtrading activities as inflationary pressures remain sticky.'
Among the heavyweight counters, Maybank fell one sen to RM9.64, Tenaga Nasional lost six sen to RM13.84, and CIMB was three sen lower at RM6.60. Public Bank gained one sen to RM4.27 while IHH Healthcare was flat at RM6.58.
In active trade, NexG added half a sen to 48 sen, Nationgate went up by two sen to RM1.51, Green Ocean Corporation inched up one sen to 13.5 sen, Zetrix AI was 1.5 sen higher at 94.5 sen, and TWL remained unchanged at 2.5 sen.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malay Mail
an hour ago
- Malay Mail
Ringgit seen hovering around RM4.22–RM4.24 next week amid Fed policy hold
KUALA LUMPUR, July 26 — The ringgit is expected to hover between RM4.22 and RM4.24 next week as the US Federal Reserve (Fed) is anticipated to maintain its policy rate, said an analyst. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said this outlook is tied to the upcoming Federal Open Market Committee (FOMC) meeting, scheduled for July 29–30, 2025. 'Based on the interest rate futures market, the Fed is likely to keep the Federal Funds Rate steady at 4.50 per cent. Technical indicators suggest that the US dollar-ringgit exchange rate is currently in a neutral zone,' he told Bernama. Meanwhile, SPI Asset Management managing partner Stephen Innes expects the ringgit to trade within a relatively narrow range of 4.2080–4.2280, with trade-related headlines and external sentiment continuing to drive short-term direction. On a Friday-to-Friday basis, the ringgit ended the week better against the greenback, closing at 4.2195/2245 versus 4.2410/2455 previously. However, the local note traded lower against a basket of major currencies. The ringgit depreciated vis-à-vis the Japanese yen to 2.8529/8565 from 2.8517/8549 and declined versus the euro to 4.9507/9566 from 4.9336/9388 at the end of last week. However, it gained against the British pound to 5.6786/6853 from 5.6999/7060 last Friday. Against Asean currencies, the ringgit trended higher. The local note firmed against the Singapore dollar to 3.2937/2978 from 3.3027/3065, strengthened versus the Thai baht to 13.0268/0478 from 13.3027/3065, rose versus the Indonesian rupiah to 258.5/258.9 from 260.2/260.6 previously, and improved against the Philippine peso to 7.38/7.40 from 7.41/7.43 last Friday. — Bernama
Barnama
2 hours ago
- Barnama
FBM KLCI Futures To Trade Within Narrow Range Next Week On Cautious Sentiment
WORLD By Harizah Hanim Mohamed KUALA LUMPUR, July 26 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is expected to trade within a narrow range next week, tracking the underlying cash market. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the resistance level is located at 1,540 and the support at 1,520, with the FBM KLCI is likely to remain range-bound between 1,510 and 1,540 in the coming week. 'Over the past few weeks, the benchmark index has repeatedly tested and hovered around the 1,530 without making a clear breakout. The ongoing sideways movement since June, coupled with thinning volume, signals cautious investor sentiment,' he told Bernama. On a weekly basis, the spot month July 2025 and August 2025 contracts gained four points each to 1,531.5 and 1,528.5, respectively. September 2025 added 5.5 points to 1,509.5, while December 2025 inched up 3.5 points to 1,511.5. Turnover for the week improved to 28,103 lots from 25,123 lots in the previous week, while open interest jumped to 48,755 contracts from 38,963 contracts previously. The FBM KLCI ended the week better, advancing 7.90 points to 1,533.76 from 1,525.86 in the previous week. -- BERNAMA
BusinessToday
3 hours ago
- BusinessToday
Hang Seng Drops As Rate Jitters Rattle Tech, China Stocks
Hong Kong stocks closed lower on July 25, reversing the previous day's gains, as unexpectedly strong US jobs data dampened investor expectations for near-term interest rate cuts. A broad sell-off in technology and mainland-linked shares led the decline. The Hang Seng Index fell 1.09% to close at 25,388.35, while the Hang Seng China Enterprises Index, which tracks major mainland Chinese firms listed in Hong Kong, dropped 1.16% to 9,150.49. The Hang Seng Tech Index also slipped 1.13%, ending at 5,677.90. The losses came after data from the US showed continued labour market strength, reducing the likelihood of early interest rate cuts by the US Federal Reserve. The prospect of higher-for-longer rates prompted risk-off moves across Asian equity markets, with Hong Kong particularly exposed due to its concentration of growth and tech stocks. Analysts noted that the sharp reversal followed a modest rebound on July 24 and reflected increasing caution ahead of upcoming macroeconomic releases and central bank commentary. Technology shares bore the brunt of the sell-off, as investors rotated out of high-growth sectors amid rising bond yields and reduced liquidity expectations. Mainland Chinese firms also declined, weighed down by lingering concerns over regulatory tightening and economic recovery uncertainties in China. Market Outlook: The Hang Seng's retreat underscores renewed global volatility as markets reassess the timeline for monetary easing. Investors remain focused on incoming economic data from both the US and China, with particular attention on inflation indicators, central bank signals and earnings guidance. Related
