KUALA LUMPUR (March 12): Bursa Malaysia retreated from Monday's gains in early trade on Tuesday, driven by mild profit-taking following the recent rally, amid mixed sentiments in regional markets, a dealer said.

At 9.16am, the FBM KLCI had slipped 1.62 points to 1,543.09, from Monday’s close at 1,544.71.

The benchmark index earlier opened 0.24 of a point higher at 1,544.95.

On the broader market, decliners and gainers were neck and neck at 208 to 201, while 328 counters were unchanged, 1,533 untraded, and 12 suspended.

Turnover amounted to 424.31 million units worth RM155.39 million.

Given the neutral tone on Wall Street overnight, Malacca Securities said buying interest on the local front may be mild on Tuesday.

“We believe the release of US consumer price index and producer price index data [later this week] may sway the interest rate outlook.

“On the broader market, we expect buying support to persist on a milder tone. The iron ore futures plunged the most since 2022, as inventories piled up in China, and it may translate into potential buying support for iron and metal-related stocks,” it said in a note.

Among the heavyweights, Malayan Banking Bhd (Maybank) fell two sen to RM9.80 a share, CIMB Group Holdings Bhd shed one sen to RM6.66, and Public Bank Bhd added one sen to RM4.31, while Tenaga Nasional Bhd at RM11.24 and Petronas Chemicals Group Bhd at RM6.85 were both flat.

As for the actives, Hong Seng Consolidated Bhd was flat at two sen, Pan Malaysia Holdings Bhd advanced two sen to 16 sen, YNH Property Bhd went up three sen to 53 sen, and Microlink Solutions Bhd declined 11 sen to 42 sen.

On the index board, the FBM Emas Index was 5.07 points weaker at 11,448.31, the FBMT 100 Index trimmed 3.86 points to 11,116.65, the FBM ACE Index notched up 0.97 of a point to 4,699.61, the FBM Emas Shariah Index decreased 3.04 points to 11,447.63, and the FBM 70 Index gained 26.86 points to 15,465.15.

Sector-wise, the Financial Services Index lost 8.57 points to 17,396.08 and the Industrial Products and Services Index edged down 0.63 of a point to 174.78, while the Energy Index inched up 0.15 of a point to 894.76, and the Plantation Index improved 3.22 points to 7,306.16.