Local Stock Market Slides In Early Trading Following Initial Gains

KUALA LUMPUR, Oct 16 – Bursa Malaysia opened slightly higher on Friday, October 16, 2026, but quickly reversed course as mild profit-taking in key heavyweight stocks weighed on the benchmark index.

By 9:15 AM, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 5.38 points, or 0.33 per cent, to trade at 1,618.32, down from Thursday’s close of 1,623.70. The benchmark had opened 1.13 points higher at 1,624.83.

Despite the drop in the main index, broader market sentiment remained positive, with advancers outpacing decliners 300 to 136. A total of 281 counters traded unchanged, 2,126 remained untraded, and 33 were suspended.

Total market turnover reached 319.91 million units valued at RM148.84 million.

Heavyweights, Active Stocks, and Sector Performance

Early trading movements across key market segments included:

• Heavyweight Movers: Financial and utility heavyweights experienced selling pressure. Maybank shed six sen to RM10.02, CIMB dropped 10 sen to RM7.38, Tenaga Nasional eased two sen to RM12.96, and IHH Healthcare declined three sen to RM7.95. Public Bank traded flat at RM4.74.
• Active Counters: ACE Market debutant EGH International slipped three sen to 13 sen. Land & General and Malayan United Industries held flat at 18 sen and 4 sen, respectively, while YB Ventures added one sen to 6.5 sen and VS Industry edged up half a sen to 33.5 sen.
• Top Gainers: Technology stocks posted early gains, with Vitrox and Malaysian Pacific Industries each advancing 18 sen to RM10.50 and RM40.58, respectively. MN Holdings gained 14 sen to RM3.80, while Westports and Petronas Dagangan each added 12 sen to RM6.85 and RM19.32.
• Top Decliners: Dutch Lady Milk led the decliners, falling 24 sen to RM29.04, followed by Petronas Gas, which gave up 20 sen to RM17.40. Sarawak Oil Palms dropped 13 sen to RM5.10, while United Plantations lost 10 sen to RM30.50.
• Index & Sector Breakdown: The FBM Emas Index slipped 16.30 points to 12,057.22, and the FBM Top 100 Index fell 20.81 points to 11,855.05. Conversely, the FBM Mid 70 Index rose 47.55 points to 17,287.29, and the FBM ACE Index gained 48.98 points to 5,359.88. Sector-wise, the Financial Services Index dropped 74.70 points to 18,751.94, and the Plantation Index lost 36.34 points to 8,807.53, while the Industrial Products and Services Index edged up 0.14 points to 177.06.

–NMT