Bursa Malaysia opens lower on reciprocal tariff jitters
As of 9.23am, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 0.95 per cent, shedding 14.79 points to 1,535.40 from its previous close of 1,550.19.
Across the broader market, decliners outpaced gainers 550 to 80, while 264 counters were unchanged.
Malacca Securities said with the US planning to impose restrictions on artificial intelligence (AI) chip exports to Malaysia and Thailand, the local bourse is likely to begin the week on a cautious footing.
"Still, the return of foreign funds and the FBM KLCI's undervaluation may cushion the downside risk for now, supported by the data centre theme, domestic-driven plays and anticipation of major infrastructure projects rollout.
"We remain bullish on the construction and utility sectors while Real Estate Investment Trusts (Reits) like IGB Reit and Sunway Reit may continue to benefit should Bank Negara Malaysia lower the overnight policy rate in the upcoming monetary policy committee meeting," it added.
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