Bursa Malaysia Opens Lower Amid Continued Profit-taking
Bursa Malaysia opened slightly lower on Wednesday, with continued profit-taking capping gains despite an overnight rebound on Wall Street, an analyst said. At 9.15 am, the benchmark index fell 6.58 ...
Source: RSS · July 23, 2026 at 3:00 PM · AI-assisted report
KUALA LUMPUR, 23 JULY 2026 —
Listen to this article
DomainFork Audio · read aloud
Bursa Malaysia Opens Lower Amid Continued Profit-taking
Market Impact
Bursa Malaysia opened slightly lower on Wednesday, with continued profit-taking capping gains despite an overnight rebound on Wall Street, an analyst said. At 9:15 am, the benchmark index fell 6.58 points to 1,713.79 from Tuesday's close of 1,720.37. The decline was attributed to continued profit-taking, which offset the positive sentiment from Wall Street's overnight rebound. According to Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng, Wall Street rallied as all three major indices ended broadly higher, led by the resurgence in semiconductor stocks and upbeat corporate earnings, which offset geopolitical tensions in West Asia.
The Malaysian market's decline was also influenced by the US 10-year yield, which edged higher to 4.626 percent amid higher crude oil prices. Despite the decline, the FTSE Bursa Malaysia KLCI (FBM KLCI) was expected to trend between the 1,715 and 1,730 range for the day, according to Thong. The market's performance was mixed, with gainers outpacing losers 237 to 153, while 364 counters were unchanged, 1,993 remained untraded, and 23 were suspended. Turnover totalled 280.69 million shares worth RM121.98 million, indicating a moderate level of trading activity.
Among the heavyweight counters, Maybank eased six sen to RM10.96, Public Bank and CIMB Group inched down by three sen each to RM5.17 and RM7.65, respectively. Tenaga Nasional dropped eight sen to RM14.48, and IHH Healthcare declined five sen to RM8.45. The decline in these counters contributed to the overall decline in the market. On the other hand, active stocks such as AIMAX Bhd, Nexgram Holdings, and Tanco saw minimal movements, with AIMAX Bhd remaining flat at one sen, Nexgram Holdings inching up half-a-sen to 4.5 sen, and Tanco adding one sen to 32.5 sen.
The top gainers for the day included Malaysian Pacific Industries, which surged 56 sen to RM47.40, Fraser & Neave Holdings, which soared 24 sen to RM29.04, and KESM Industries, which increased 11 sen to RM4.19. These gains were offset by the losers, which included Kuala Lumpur Kepong, falling 28 sen to RM20.86, United Plantations, sliding 26 sen to RM33.48, and Petronas Dagangan, trimming 12 sen to RM19.38. The broader indices also saw mixed movements, with the FBM Emas Index shedding 29.24 points to 12,680.52, and the FBMT Top 100 Index declining 35.06 points to 12,503.07.
The FBM Emas Shariah Index eased 14.42 points to 12,530.03, while the FBM Mid 70 Index improved 4.75 points to 18,013.53, and the FBM ACE Index garnered 16.30 points to 4,983.16. By sector, the Financial Services Index slipped 87.26 points to 20,212.87, the Plantation Index shed 74.72 points to 9,282.28, and the Industrial Products and Services Index edged up 0.56 of a point to 187.80. The Energy Index put on 6.55 points to 776.95, indicating a slight increase in energy-related stocks.
The trading halt in Ahmad Zaki Resources Bhd's securities from 9 am to 10 am also had a minimal impact on the overall market. According to Thong, the market is expected to remain volatile, with investors closely watching the movements of the US 10-year yield and crude oil prices. The Malaysian market's performance is also influenced by the regional and global economic trends, making it essential for investors to stay informed and up-to-date with the latest developments.
In terms of regional impact, the decline in Bursa Malaysia was in line with the performance of other regional markets, which also saw mixed movements. The Malaysian market's correlation with regional markets is significant, and investors should consider the broader regional trends when making investment decisions. As the market continues to evolve, it is crucial for investors to stay informed and adapt to the changing market conditions. With the FTSE Bursa Malaysia KLCI expected to trend between the 1,715 and 1,730 range, investors will be closely watching the market's movements and adjusting their strategies accordingly.
Looking ahead, the Malaysian market is expected to remain volatile, with investors closely watching the movements of the US 10-year yield, crude oil prices, and regional economic trends. The market's performance will also be influenced by the upcoming corporate earnings and economic data releases, making it essential for investors to stay informed and up-to-date with the latest developments. As the market continues to evolve, it is crucial for investors to stay adaptable and adjust their strategies to navigate the changing market conditions. With the current market trends and expectations, investors should remain cautious and consider the broader regional and global economic trends when making investment decisions.
Related: Bursa Malaysia · Thong Pak Leng