At 9.10am, the FBM KLCI fell 1.79 points, or 0.10%, to 1,669.50 from Monday’s close of 1,671.29. The index had opened 2.51 points weaker at 1,668.78.
Market breadth was positive, with 182 gainers leading 116 losers. A further 301 counters were unchanged, while 2,175 were untraded and 11 suspended.
Turnover amounted to 114.92 million shares valued at RM58.71 million.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng noted that Wall Street ended higher, supported by AI-related trades.
Nonetheless, he said the overall sentiment remains cautious as funds are also rotating to cheaper alternatives amid the lofty valuations within the technology sector.
Furthermore, funds are de-risking from Wall Street, and many are finding their way into Asia, underscored by better fundamentals and valuations.
“The benchmark index has added 30 points over the last five trading days, and we believe it is poised to test the 1,700 level amid some intermittent corrections. As such, we expect the index to hover between the 1,665-1,680 range today,” he said.
Among the heavyweights, Petronas Dagangan added 12 sen to RM19.64, MISC added one sen to RM7.70, Tenaga Nasional lost four sen to RM13.50, while both Hong Leong Bank and IHH Healthcare were flat at RM22.26 and RM8.62.
On the most active list, Zetrix AI, Eca Integrated and HHRG rose half a sen each to 81 sen, 20 sen and 6.5 sen, respectively. TWL and Compugates were flat at 2.5 sen and 1.5 sen, respectively.
Top gainers included Nestle, which increased 80 sen to RM115.70, Dutch Lady added eight sen to RM30.18, and Malayan Cement gained seven sen to RM7.30. Kuala Lumpur Kepong and Pentamaster were six sen higher at RM20.08 and RM4.01, respectively.
Among the top losers, BLD Plantation fell RM1.60 to RM14.20, Petronas Gas lost 14 sen to RM17.96, Malaysian Pacific and Negri Sembilan Oil Palm decreased 12 sen to RM32.46 and RM5.63, while Press Metal slid seven sen to RM7.02.
On the index board, the FBM Emas Index was 0.88 of a point weaker at 12,263.31, the FBMT 100 Index declined 1.92 points to 12,060.52, the FBM Emas Shariah Index widened 0.25 of a point to 12,062.66, and the FBM 70 Index strengthened 46.93 points to 16,871.67, while the FBM ACE Index garnered 7.36 points to 4,833.26.
Sector-wise, the Plantation Index narrowed 33.32 points to 8,203.23, the Financial Services Index ticked down 9.92 points to 19,611.72, and the Industrial Products and Services Index edged down 0.29 points to 172.34, while the Energy Index improved 3.57 points to 769.75.