Bursa Malaysia extended its decline into Thursday midday as selling pressure returned to dominate the market, mirroring mixed global market performance while rising US Treasury bond yields continued to dampen risk sentiment.
At 12:30 pm, the FBM KLCI fell 15.36 points to 1,635.81, down from Wednesday's close of 1,651.17.
The benchmark index opened 1.30 points lower at 1,649.87 before fluctuating between 1,634.39 and 1,649.87 throughout the morning session.
Decliners Dominate the Market
Overall sentiment remained weak, with 583 counters recording losses compared to 305 gainers.
A total of 464 counters remained unchanged, while 1,421 counters were untraded and 12 were suspended.
Trading volume reached 1.65 billion shares valued at RM1.18 billion.
Banking and Energy Stocks Remain Under Pressure
Among the heavyweights, Maybank and Tenaga Nasional fell 6 sen each to RM9.93 and RM12.90, respectively.
Public Bank dropped 4 sen to RM4.66, while CIMB declined 5 sen to RM7.74. IHH Healthcare also fell 19 sen to RM7.64.
Pressure from these large-cap stocks was among the factors weighing on the FBM KLCI during the midday session. US Jobs Data in Focus
Apex Securities noted that market sentiment was affected after US private-sector hiring exceeded expectations, with 90,000 jobs added in September.
This development offset the relief provided by lower core Personal Consumption Expenditures (PCE) inflation data.
Investors are now awaiting Friday's US Non-Farm Payrolls (NFP) report for fresh clues regarding the Federal Reserve's policy direction.
Meanwhile, developments in US-Iran negotiations and oil price movements are also drawing market attention.
Zetrix AI Among Active Counters
In active trading, Zetrix AI and V.S. Industry rose half a sen each to 16.5 sen and 28.5 sen, respectively.
Jaks Resources fell half a sen to 20 sen, while new ACE Market entrant GB Bond dropped 2.5 sen to 22.5 sen.
Dagang Nexchange strengthened by 1.5 sen to 50 sen.
MPI Records Largest Gain
Among the top gainers, Malaysian Pacific Industries (MPI) saw the biggest rise, climbing RM1.26 to RM41.66.
MI Technovation rose 13 sen to RM5.33, followed by Ta Ann, which gained 12 sen to reach RM5.92. Malayan Cement and Genting Plantations rose 11 sen and 10 sen, respectively, to RM5.56 and RM5.63.
KLK Among Top Losers
Meanwhile, Kuala Lumpur Kepong (KLK) led the list of losers, dropping 76 sen to RM21.44. Allianz Malaysia fell 62 sen to RM21, while Fraser & Neave, Hong Leong Industries, and Batu Kawan declined by 42 sen each to RM21.32, RM16.04, and RM20.10, respectively.
Most Indices in the Red
On the index board, the FBM Mid 70 shed 87.65 points to 17,487.02, while the FBM Emas dropped 94.18 points to 12,197.83.
The FBM Top 100 fell 99 points to 11,985.44, while the FBM Emas Shariah declined 87.69 points to 12,088.65. The FBM ACE also dropped 31.4 points to 5,503.14.
All Major Sectors Declined
By sector, the Industrial Products and Services Index fell 1.16 points to 178.80.
The Energy Index shed 7.79 points to 837.91, while the Financial Services Index declined 148.77 points to 19,067.72.
The Plantation Index fell 121.85 points to 9,074.82.
