Bursa slips at open despite Wall Street rally, Petronas Dagangan leads losers

Detailed summary

Bursa Malaysia opened lower on Thursday as cautious investor sentiment persisted despite overnight gains on Wall Street.At 9.10 am, the FTSE Bursa ...

KUALA LUMPUR, Nov 12 — Bursa Malaysia opened lower on Thursday as cautious investor sentiment persisted despite overnight gains on Wall Street.

At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) shed 3.16 points to 1,592.03 from Wednesday’s close of 1,595.19.

Market breadth was negative, with losers outnumbering gainers 216 to 109.

A total of 255 counters were unchanged, 2,194 remained untraded and 13 were suspended.

Apex Securities Bhd said the FBM KLCI remained bearish after slipping below the psychological 1,600-point level, with its recent rebound failing to generate sustained upward momentum.

It expects the benchmark index to remain under pressure in the near term, as persistent global interest rate concerns and stronger-than-expected US inflation have fuelled expectations of a possible US Federal Reserve (Fed) rate hike in December, potentially dampening foreign fund flows into emerging markets.

“Investors will also be monitoring the upcoming US Producer Price Index (PPI), the final key inflation indicator ahead of the Fed’s December Federal Open Market Committee meeting,” it said in a note today.

On the domestic front, Apex Securities said investors were likely to adopt a selective approach ahead of the third-quarter 2026 earnings season, with corporate results and management guidance expected to shape stock-specific movements.

The Melaka state election on November 14 could also add to near-term market uncertainty, it added.

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