Bursa starts lower despite Wall Street gains
The FBM KLCI lost 3.16 points in early trading, while plantation stocks advanced against a weaker broader market.
Bursa Malaysia recorded early losses on Nov 12, with the FTSE Bursa Malaysia KLCI (FBM KLCI) standing at 1,592.03 at 9.10 am. That put the benchmark 3.16 points below its previous close of 1,595.19, despite an overnight rise on Wall Street.
The opening level was 1,591.58, down 3.61 points. Decliners numbered 216 against 109 gainers, with 255 counters unchanged. Another 2,194 were untraded and 13 suspended. Trading involved 253.49 million units valued at RM83.18 million.
Apex Securities Bhd said the benchmark's outlook remained bearish following its retreat below 1,600 points. It expected continued near-term pressure, citing global interest rate concerns and US inflation that exceeded expectations.
The brokerage said those concerns had raised expectations that the US Federal Reserve could increase rates in December, potentially curbing foreign fund flows into emerging markets. Locally, it expected selective trading ahead of third-quarter 2026 earnings, while the Nov 14 Melaka state election could add uncertainty.
Heavyweights were mixed: Public Bank added two sen to RM4.55, but CIMB declined three sen to RM7.05 and Tenaga Nasional dropped six sen to RM12.90. Maybank remained at RM9.95.
Plantation shares advanced, with United Plantations up 78 sen at RM31.02 and Sarawak Plantation adding 15 sen to RM4.08. The Plantation Index rose 77.06 points to 8,804.99. Petronas Dagangan, meanwhile, topped the losers with a 30 sen fall to RM19.22.
