KUALA LUMPUR, Nov 19 — Bursa Malaysia’s key index opened lower today, tracking Wall Street’s mixed overnight performance, as sentiment remained cautious over the US Federal Reserve’s (Fed) interest rate trajectory.

At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 2.38 points to 1,601.66, compared with yesterday’s close of 1,604.04.

The benchmark index had briefly opened higher, gaining 0.86 of-a-point at 1,603.18 before reversing direction.

The broader market showed mixed sentiment, with 200 gainers outpacing 109 losers, while 253 counters were unchanged, 1,904 untraded, and 14 suspended.

Turnover was 151.04 million shares valued at RM76.03 million.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng noted that recent comments by Fed chair Jerome Powell indicated no urgency in adjusting interest rates, citing a robust economy and strong labour market.

"The US 10-year Treasury yield eased to 4.414 per cent. Meanwhile, in Hong Kong, the Hang Seng Index rebounded after Chinese regulators encouraged companies with share prices below their net value to enhance performance. This shift boosted interest in banks,” he told Bernama.

However, Thong observed that overall market sentiment in Hong Kong remained fragile following a lacklustre stimulus package announced recently.

Thong added that the FBM KLCI managed an impressive rebound despite remaining on a challenging recovery path.

"We expect bargain-hunting activities to continue ahead of earnings reports from heavyweights this week, with the index likely to hover between the 1,600-1,610 range today,” he added.

Among the heavyweights, Tenaga Nasional added 2.0 sen to RM14.38, while Public Bank eased 3.0 sen to RM4.47.

Maybank and CIMB both slid 6.0 sen to RM10.28 and RM8.15, respectively, while IHH Healthcare was unchanged at RM7.22.

For active stocks, AIZO rose half-a-sen to 15 sen, MMAG Holdings improved by 1.0 sen to 45 sen, Life Water gained 4.0 sen to 90 sen, and Elridge Energy added 1.5 sen to 44.5 sen. Classita remained flat at 6.5 sen.

On the index board, the FBM Emas Shariah Index advanced 19.62 points to 12,133.24, the FBM Emas Index edged up 0.55 of-a-point to 12,173.41, the FBM 70 Index surged 55.32 points to 17,919.21, and the FBM ACE Index rose 5.94 points to 5,181.03.

The FBMT 100 Index, however, slipped 1.81 points to 11,874.01.

Sector-wise, the Energy Index rebounded 6.88 points to 834.75, the Industrial Products and Services Index added 0.75 of-a-point to 171.0, while the Financial Services Index fell 66.30 points to 19,144.24, and the Plantation Index decreased 4.88 points to 7,700.61. — Bernama