KUALA LUMPUR: A rebound in US markets could provide some reprieve to global stocks from the selling pressure of recent days, although concerns remain over the outlook of the US economy.
Buying interest emerged on Wall Street overnight, especially in growth stocks, as the 10-year Treasury yield retreated from a 15-year high.
According to Malacca Securities Research, however, the upside coudl be limited as the US government is facing a shutdown if the Congress is unable to pass a fund plan by end-September.
At the opening bell, Malaysia's benchmark FBM KLCI was down 3.72 points to 1,436.39 as the market returned from a one-day national holiday.
There were declines most bank stocks including Maybank down one sne to RM8.87, Public Bank falling two sen to RM4.12, Hong Leong Bank shedding six sen to RM19.72 and RHB losing two sen to RM5.48.
Tenaga Nasional dropped seven sen to RM9.95, CelcomDigi shed three sen to RM4.40 and Sime Darby Plantation
slid two sen to RM4.27.
Some notable gainers on the market included Gamuda up nine sen to RM4.40 after reporting a positive set of quarterly earnings, Genetech gaining three sen to RM2.40 and Khind rising nine sen to RM2.70.
Top actives included Sapura Energy up 0.5 sen to six sen, EMCC adding 1.5 sen to 36.5 sne and Ekovest gaining 1.5 sne to 57.5 sen.
