Bursa Malaysia Mixed In Morning Session, Regional Markets Scrutinize FOMC Report


The FBM KLCI ended this morning's session mixed in line with other regional markets. For now, investors are looking ahead to the US Federal Reserve's (Fed) decision to keep its key interest rate on hold on Wednesday.

At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.35 points to 1,576.32 compared to 1,575.97 at the close last Tuesday.

The benchmark index opened one point lower at 1,574.97 and it moved between 1,574.27 to 1,579.17 throughout the session.

However, broad market sentiment was negative as losers outnumbered gainers by 554 to 412. Meanwhile, 477 counters were unchanged, 847 were untraded and 18 others were suspended.

Bursa Malaysia opened lower today before it moved erratically in the middle of the session and the barometer index was then moving into positive territory. The movement occurred due to active buying support in selected heavyweights such as the banking sector.

ActivTrades investor Anderson Alves said that Fed Chairman Jerome Powell has emphasized the central bank's desire to maintain its level for a longer period. This will reduce the likelihood of rate hikes happening.

Meanwhile, heavyweight Maybank rose five sen to RM9.78, CIMB and Tenaga Nasional rose two sen to RM6.63 and RM11.98 respectively, while Public Bank dropped two sen to RM4.10 and IHH Healthcare dropped four sen. to RM6.29.

As for active shares, MyEG fell two sen to 91.5 sen, Iconic Worldwide and Binapuri warrants fell half a sen each to four sen and seven sen respectively, Velesto fell one sen to 26 sen while Top Glove was unchanged at 88 sen.

On the index board, the FBM Emas Index rose 2.87 points to 11,875.13, the FBMT 100 Index rose 0.99 points to 11,503.72, the FBM Emas Shariah Index increased 4.8 points to 12,090.74 and the FBM-ACE0 Index increased 6. one point to 5,077.37 and the FBM 70 Index decreased 5.01 points. to 16,616.24.

In terms of sectors, the Financial Services Index rose 24.32 points to 17,238.47, the Plantation Index added 7.16 points to 7,443.92 and the Industrial Products and Services Index added 0.34 points to 189.48. Meanwhile, the Energy Index decreased by 14.33 points to 961.33.