BURSA MALAYSIA STARTS FLAT AS WALL ST DRAGS

KUALA LUMPUR, March 21 (Bernama) -- Bursa Malaysia opened nearly flat, tracking Wall Street’s weaker overnight performance.  

At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.75 of-a-point to 1,504.91 from Thursday’s close of 1,504.16. The benchmark index had opened 0.29 of-a-point lower at 1,503.87.  

On the broader market, decliners edged past gainers 125 to 115, with 199 counters unchanged, 1,998 untraded, and 29 suspended.

Turnover stood at 92.11 million shares worth RM49.78 million.  

Malacca Securities Sdn Bhd said Wall Street reversed its one-day gain as uncertainties over Donald Trump’s tariffs and concerns about slowing economic growth persisted.  

Despite US tariff uncertainties, Malaysia’s exports remained resilient in February, growing 6.2 per cent year-on-year, driven by electrical and electronics (E&E) products and the palm oil sector, it added.  

“We anticipate sustained interest in the semiconductor and E&E sectors, supported by Malaysia’s 10-year partnership with Arm Holdings and ongoing global tech spending in artificial intelligence,” it said in a statement today.  

Meanwhile, the monsoon transition period from March to May could spur follow-through interest in certain flood mitigation, construction, and building materials counters, it noted.  

However, investors should remain cautious of the upcoming US reciprocal tariffs on April 2, which could reintroduce near-term market volatility, the brokerage firm warned.  

Among heavyweights, Maybank advanced eight sen to RM10.26, TNB gained six sen to RM13.56, while CIMB, IHH Healthcare, and Press Metal added two sen each to RM6.82, RM6.79, and RM5.03, respectively.  

Hong Leong Bank and SD Guthrie were unchanged at RM20.40 and RM4.86. Public Bank fell two sen to RM4.46, while YTL Power lost three sen to RM3.38.  

In active stocks, TWL Holdings, Saliran Group, McLean Technologies, and Reneuco edged up half-a-sen each to 2.5 sen, 24.5 sen, 29.0 sen, and 5.5 sen, respectively. Minox was flat at 25 sen, while ACE Market debutant Lim Seong Hai Capital slipped three sen to 85 sen.  

On the index board, the FBM Emas Index added 7.40 points to 11,308.77, the FBMT 100 Index gained 8.57 points to 11,060.40, and the FBM Emas Shariah Index rose 13.35 points to 11,040.17.  

The FBM 70 Index firmed 24.80 points to 16,298.32, while the FBM ACE Index climbed 34.31 points to 4,813.02.  

By sector, the Industrial Products and Services Index inched down 0.01 of-a-point to 154.15, the Energy Index eased 0.36 of-a-point to 749.94, and the Financial Services Index shed 9.07 points to 18,396.23. Conversely, the Plantation Index rose 1.66 points to 7,453.15.

-- BERNAMA