Bursa Malaysia slips after higher opening, KLCI down 10.55 points
Market breadth was negative, with 466 declining counters against 197 gainers. Trading value reached RM370.21 million.
An early rise on Bursa Malaysia gave way to losses on Oct 8, with the FTSE Bursa Malaysia KLCI (FBM KLCI) recording 1,601.23 at 9.34 am. The benchmark dropped 10.55 points, equivalent to 0.65 per cent, as the market followed overnight declines on Wall Street amid higher US Treasury yields.
Trading began with the index at 1,613.45, an increase of 1.67 points over Wednesday’s closing reading of 1,611.78. Market activity involved 565.70 million units valued at RM370.21 million. Besides the declining and advancing counters, 337 showed no price change, 1,828 had not traded and 13 were suspended.
According to Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng, the yield on US 10-year Treasuries hit 5.365 per cent, a 24-year high, then eased to 5.286 per cent. He said Hong Kong shares also declined as rising crude prices prompted caution, with Brent exceeding US$101 per barrel again.
Heavyweight shares were mixed. A six sen increase put Tenaga Nasional at RM12.92. Maybank traded at RM9.83 after a four sen decline, while IHH Healthcare also lost four sen, reaching RM7.86. CIMB’s 13 sen fall left it at RM7.20, and Public Bank dropped five sen to reach RM4.54.
Elsewhere, Binastra Corporation advanced by 20 sen, reaching RM2.70. Malaysian Pacific Industries recorded a 90 sen decline and traded at RM44.30, while a 44 sen loss put Hong Leong Bank at RM21.06.
