Bursa Malaysia Down Due to Cautious Market Sentiment

thecekodok


Bursa Malaysia edged lower at the midday break amid mixed and cautious regional market performance.



At 2.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was down 0.08% or 1.27 points to 1,644.41 from Monday's close of 1,645.68. The benchmark index initially opened 1.78 points higher at 1,647.46.


Market sentiment remained negative, with losers outnumbering gainers 475 to 334 while 476 counters were unchanged, 1,196 untraded and 13 suspended.


According to Malacca Securities Sdn Bhd, given Wall Street's mixed performance overnight, market attention may shift to sectors set to benefit from Budget 2025 policies including construction, real estate, technology and renewable energy.


Moreover, it said the outlook could be affected by external risks, including the potential for a wider Middle East conflict, a contentious US election, uncertainty over China's stimulus measures and its economic recovery plans.



In the local market, heavyweights, Maybank dropped two sen to RM10.64, Tenaga Nasional dropped 10 sen to RM14.54 while both Public Bank and CIMB Group dropped one sen each to RM4.56 and RM8.19.

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