26-05-2025
Bursa Malaysia Opens Marginally Higher But Retreats Thereafter
By Nurunnasihah Ahmad Rashid
KUALA LUMPUR, May 26 (Bernama) -- Bursa Malaysia opened marginally higher but retreated thereafter, weighed down by mild profit-taking in selected heavyweights as Wall Street slipped following the latest US tariff threats against the European Union (EU), analysts said.
At 9.15 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.93 points or 0.12 per cent to 1,533.45 from Friday's close of 1,535.38.
The benchmark index opened 0.95 of-a-point higher at 1,536.33.
Market breadth was negative with 227 decliners and 122 gainers, while 329 counters were unchanged, 1,752 untraded and 42 suspended.
Turnover stood at 237.79 million shares valued at RM97.58 million.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said sentiment was once again unsettled by the ongoing 'de-escalation' and 're-escalation' of trade tensions, following the tariff threats against the EU, including a proposed 50 per cent tariff on all imports from the EU, and 25 per cent on i-Phones not made in the US.
'On the local market, we suspect that foreign funds may return as buyers after several days of selling.
'For today, we expect the index to trend cautiously within the 1,525-1,540 range,' he told Bernama.
