Bursa opens lower, traders adopt wait-and-see approach ahead of 2Q GDP announcement
The announcement will deliver the first substantive read-through on the economic drag arising from recent United States (US) tariff announcements.
At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched down 0.51 of a point to 1,580.54 from yesterday's close of 1,581.05.
The benchmark index opened 0.70 of a point firmer at 1,581.75.
However, the market breadth was positive, with advancers leading decliners 110 to 108. A total of 231 counters were unchanged, 2,123 untraded and seven suspended.
Turnover stood at 83.43 million shares worth RM36.44 million.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said that historically, the GDP growth has been anchored by private consumption averaging around 49 per cent of nominal GDP and private investment at approximately 23 per cent.
'Should either of these core pillars fall materially below their long-run averages — particularly if private investment remains near its recent 18.5 per cent level — it could undermine investor confidence and heighten risk aversion in domestic markets,' he told Bernama.
He highlighted that although the GDP is a lagging indicator, it provides an essential 'health check' on the macroeconomic landscape, shaping asset allocation and sector positioning.
Moreover, he said the forthcoming release will be scrutinised for evidence of shifts in consumption momentum and investment appetite, both of which are central to sustaining Malaysia's growth trajectory in the second half of the year.
'Advance estimates point to growth of 4.5 per cent, against economists' consensus of 4.3 per cent.
'Beyond the structural drivers noted earlier, should the overall GDP slip below 4.0 per cent, market sentiment could weaken temporarily; however, the FBM KLCI is still likely to draw buy-on-weakness interest,' he added.
Among the heavyweight stocks, Maybank, Public Bank and CIMB added one sen to RM9.85, RM4.46, and RM7.21, respectively. Tenaga Nasional went up two sen to RM13.70, while IHH Healthcare was one sen lower at RM6.89.
On the actively traded list, TWL, Pharmaniaga, Mtouche Technology, and Malaysian Resources Corporation were flat at 2.5 sen, 17.5 sen, 3.5 sen and 52 sen, respectively. Oriental Kopi went down one sen to 97.5 sen.
On the broader market, the FBM Emas Index weakened 2.93 points to 11,757.99, the FBMT 100 Index fell 3.95 points to 11,539.77, the FBM Emas Shariah Index gave up 10.29 points to 11,698.16, and the FBM Mid 70 Index slipped 6.62 points to 16,683.31, while the FBM ACE Index picked up 2.62 points to 4,669.16.
By sector, the Financial Services Index advanced 28.22 points to 18,078.75, the Plantation Index bagged 6.96 points to 7,588.61, but the Energy Index edged down 0.62 of a point to 738.87, and the Industrial Products and Services Index shaved 0.75 of a point to 158.19. — Bernama
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