KUALA LUMPUR: Bursa Malaysia pared yesterday's gains to open lower on Tuesday amid dampened regional sentiment, as market players adopt a cautious stance ahead of the US Federal Open Market Committee (FOMC) meeting scheduled for today and tomorrow, as well as US tech companies’ earnings.At 9.15am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 6.76 points to 1,706.33 from yesterday’s close of 1,713.09.The benchmark index opened 1.14 points lower at 1,711.95.The broader market was negative, with losers outpacing gainers 338 to 96, while 326 counters were unchanged, 2,020 untraded and 36 suspended.Turnover totalled 282.61 million shares worth RM146.30 million.IPPFA Sdn Bhd director of investment strategy and country economist Sedek Jantan said Asian market players await FOMC’s decision and US tech results.Meta Platforms Inc, Microsoft Corporation, Amazon Inc and Apple Inc’s second quarter (Q2) earnings are due.“So investors lock in profits, and take a wait-and-see stand,” he added.Key macroeconomic data, including the Federal Reserve policy decision, nonfarm payrolls, and Q2 gross domestic product prints, are also due.Among heavyweights, Maxis, Hong Leong Bank, Mr D.I.Y and Kuala Lumpur Kepong were unchanged at RM3.55, RM22.10, RM1.59 and RM20.82, respectively. Petronas gained two sen to RM17.72.Among active stocks, Zetrix AI fell one sen to 67.5 sen, Nationgate slipped six sen to RM1.06, Tanco lost half-a-sen to 24 sen while SNS Network Technology added one sen to 57 sen and TWL strengthened half-a-sen to 25 sen.Among the top gainers, United Plantations advanced 30 sen to RM33.33, Dutch Lady Milk Industries jumped 18 sen to RM32, British American Tobacco and MHC Plantations inched up five sen each to RM4.93 and RM1.93, respectively, and QL Resources added three sen to RM3.97.Malaysian Pacific Industries led the losers, falling 92 sen to RM45.14, Allianz Malaysia shed 30 sen to RM21, UMS Integration lost 28 sen to RM7.62, Fraser & Neave declined 22 sen to RM27.62, and Kelington slipped 17 sen to RM8.04.Among the broader indices, the FBM Emas Index fell 50.52 points to 12,612.65, the FBMT 100 Index inched down 48.27 points to 12,443.40, and the FBM Mid 70 Index decreased 64.93 points to 17,905.08.The FBM Emas Shariah Index slipped 50.87 points to 12,435.99, and the FBM ACE Index eased 41.18 points to 4,877.69.By sector, the Financial Services Index dropped 63.6…
Summary from source