Bursa Malaysia slips in early trade as US tech and AI stocks tumble
The FTSE Bursa Malaysia KLCI fell about 0.5% in early trading, mirroring Friday's losses on Wall Street driven by a sell-off in technology and AI-related shares.
In early Monday trade, the FTSE Bursa Malaysia KLCI eased to 1,599.34, down 8.42 points from Friday’s close, as the market tracked losses on Wall Street in technology and AI stocks. The index opened at 1,604.18 and saw 423 decliners versus 103 advancers, with 270 stocks unchanged and 34 suspended. Trading volume amounted to 247.52 million units, valued at RM165.34 million.
Apex Securities Bhd said persistent foreign outflows, elevated oil prices and inflationary pressure are likely to dampen risk appetite ahead of the US Federal Reserve’s Oct 29 policy meeting. Domestically, market participants will assess the impact of a 5.3% GDP growth in Q3 2026 and higher operating costs on earnings, especially for labour-intensive companies. Heavyweights such as Maybank and Public Bank slipped modestly, while Petronas Dagangan led gainers, and Hong Leong Financial Group was among the top losers.
Why it matters
The move shows how global tech and AI market weakness and US monetary policy expectations are influencing Malaysia’s equity market.
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