KLCI falls 5.38 points as heavyweights face profit-taking
The broader market recorded 300 advancing counters and 136 decliners, with trading worth RM148.84 million.
Profit-taking in selected heavyweight stocks pushed Bursa Malaysia lower in early trading on Oct 16, following a slightly firmer opening. The FTSE Bursa Malaysia KLCI (FBM KLCI) was at 1,618.32 at 9.15 am, down 0.33 per cent, or 5.38 points.
The opening level of 1,624.83 represented a 1.13-point advance from the previous close of 1,623.70. Trading volume reached 319.91 million units, valued at RM148.84 million. Beyond the advancing and declining counters, 281 were unchanged, with 2,126 untraded and 33 suspended.
In the morning session, a six-sen decline put Maybank at RM10.02, while CIMB was down 10 sen at RM7.38. Tenaga Nasional traded at RM12.96 after slipping 2.0 sen, and IHH Healthcare was three sen weaker at RM7.95. Public Bank remained unchanged at RM4.74.
Among actively traded shares, EGH International made its ACE Market debut and was down three sen at 13 sen. YB Ventures rose to 6.5 sen with a one-sen gain, while a half-sen increase took VS Industry to 33.5 sen.
Apex Securities said the overnight rebound on Wall Street may offer some relief to local sentiment. However, it said investors' shift away from US artificial intelligence-related technology stocks may keep global risk appetite under pressure. The brokerage expected defensive large-cap shares to underpin the KLCI, which it forecast would trade within a range.
