FBM KLCI turns positive after lower opening
Losing counters exceeded gainers 201 to 156, with turnover of 180.64 million units valued at RM90.02 million.
Malaysia’s benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) recovered from an opening decline to reach 1,596.11 at 9.15 am on Oct 20. It was up 0.02 per cent, or 0.36 of a point, against Monday’s closing level of 1,595.75.
The opening reading was 1,592.57, a fall of 3.18 points. Broader trading remained weaker, with 201 counters declining and 156 advancing. Another 302 were unchanged, while 2,181 had not traded and 10 were suspended. Trading volume reached 180.64 million units, with a value of RM90.02 million.
Apex Securities Bhd said an overnight recovery on Wall Street could support the benchmark. The Nasdaq Composite advanced 1.11 per cent and the S&P 500 rose 0.41 per cent, with artificial intelligence-related semiconductor and memory stocks leading the rebound.
The brokerage nevertheless cautioned that weak market breadth and elevated US Treasury yields could constrain gains. It expected range-bound trading, with investors favouring domestically driven and defensive stocks.
Banking heavyweights moved higher: Maybank added four sen to RM9.94, CIMB climbed two sen to RM7.17 and Public Bank increased one sen to RM4.72. In contrast, TNB declined six sen to RM12.92, while YTL Power dropped five sen to RM5.21.
Nestle recorded the largest gain, climbing 40 sen to RM90.30. Among declining stocks, KESM lost 15 sen to RM4.54 and Kerjaya Prospek dropped 10 sen to RM3.22.
