Bursa Malaysia slips 0.84pc at mid-morning on profit taking
At 11am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 12.94 points to 1,527.38 from yesterday's close of 1,540.32. The benchmark index had opened 1.60 points lower at 1,538.66.
Market breadth was negative, with 481 decliners outpacing 259 gainers. A total of 382 counters were unchanged, 1,404 untraded, and 44 suspended.
Turnover stood at 1.45 billion shares worth RM697.23 million.
Tenaga Nasional dropped 46 sen to RM13.48, YTL Power lost 10 sen to RM4.09, and Press Metal eased eight sen to RM5.25. Among the banking heavyweights, Malayan Banking declined five sen to RM9.58, Public Bank slipped three sen to RM4.28, while CIMB was unchanged at RM6.70.
In active trade, NexG and Velesto gained one sen each to 52.5 sen and 19 sen, respectively. Lotte Chemical and Zetrix declined half-a-sen each to 70 sen and 91 sen, respectively, while Tanco and TWL were unchanged at 91.5 sen and 2.5 sen, respectively.
Across the broader market, the FBM Emas Index dropped 79.41 points to 11,471.76, the FBMT 100 Index slipped 81.39 points to 11,233.23, and the FBM Emas Shariah Index declined 95.50 points to 11,485.46.
The FBM 70 Index eased 59.63 points to 16,599.23, while the FBM ACE Index shed 15.24 points to 4,627.27.
By sector, the Financial Services Index fell 54.71 points to 17,450.87, the Plantation Index lost 43.16 points to 7,426.80, and the Industrial Products and Services Index was 1.27 points lower at 156.89. The Energy Index, however, rose 5.47 points to 744.15. — Bernama
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The Star
2 hours ago
- The Star
Tariff concerns weigh on reception of 13MP
PETALING JAYA: The 13th Malaysia Plan (13MP) announcement by the Prime Minister, which promises RM611bil in allocation for the next five years, did not bring much cheer to the stock market. Investors stayed on the sidelines as they were more concerned about the final tariff outcome, set to be announced by US president Donald Trump. Analysts who spoke to StarBiz, on the other hand, are not overly enthusiastic about the 13MP, although they do foresee benefits for households and several business sectors. It is, therefore, not surprising that the 13MP announcement did little to lift the mood of the already sombre Bursa Malaysia, weighed by foreign fund outflows. At market close yesterday, the stock exchange saw 545 gainers – outnumbered by 475 declines and 483 counters that remained unchanged. The benchmark FBM KLCI, on the other hand, fell by 11.25 points or 0.74% to 1,513.25 points on July 31. Of the 30 component stocks of the FBM KLCI, a total of 18 ended the day in the red. A similar negative sentiment was observed across key Asian stock market indices. Singapore's Straits Times Index lost 1.08%, while Hong Kong's Hang Seng declined 1.6%. China's Shanghai Composite Index fell 1.18% and South Korea's Kospi slipped 0.28%. However, Japan's Nikkei 225 rose 1.02%. Across the region, investors remained jittery as Trump's tariffs are set to take effect today. As for the investors in the Malaysian equities space, they may appreciate the 13MP measures more once the tariff dust has settled. iFAST Capital research analyst Kevin Khaw Khai Sheng saw no major surprises in the 13MP announcement. 'Overall, no surprise is the best surprise for us. 'The 13MP largely reiterates directions already outlined by the government within the Madani Economy framework.' Khaw viewed the increase in development expenditure as a positive development, signalling the government's sustained focus on infrastructure. Meanwhile, BIMB Securities director of research Mohd Redza Abdul Rahman said the 13MP looks at the various existing government policies that are currently active, 'as expected'. 'As some of these policies end in 2030, naturally the 13MP will focus on accelerating the deliverables of the outcomes outlined.' However, Mohd Redza noted several interesting new policies as part of the 13MP, one of them being the National AI Action Plan 2030. It targets to increase high-value research and the creation and commercialisation of intellectual property through the provision of research facilities and targeted incentives. 'The action plan is a step in the right direction as this action plan brings together the relevant policies to accelerate their implementation, by addressing the overlaps while also angling them into one common direction of execution.' The second interesting policy, according to Mohd Redza, is the National Trade Blueprint 2.0, which is meant to ensure that trade policy strategies and initiatives can be implemented effectively. 'The challenges and unpredictability of geopolitics, especially the tariff war, needs to be addressed smartly to strengthen our trade relations globally, whilst ensuring the sovereignty of the country is protected,' he added. Segment-wise, Mohd Redza sees the construction sector as the biggest winner of the 13MP, underpinned by the government's focus on development expenditures between 2026 and 2030. 'Furthermore, the potential hike in water tariffs would also provide another impetus for the sector, as under-investment in water production for years springs opportunities in the near future as the country aims to reduce non-revenue water (from leakages due to old pipes) and ensure that the current sources are sufficient to cater to the needs of population growth as well as the pick-up in industrial activities including data centres. 'The spillover effect will also be felt for the utilities sector. 'The focus on expanding the use of the industrialised building system and emphasis on affordable housing would be a boon to the property sector.' Meanwhile, the initiatives in support of upliftment of social mobility as well as raising the living standards will be positive for the consumer sector. This will lift the disposable income and purchasing power supported by broader consumption, but margin pressure may emerge in the near term for labour-intensive operators, according to Mohd Redza. Echoing a similar stance, iFast's Khaw anticipates domestic-focused industries –including consumer staples, construction and property – to be the primary beneficiaries of the 13MP. 'The technology sector, particularly semiconductor and software companies, holds the highest upside potential, given its current attractive valuations. 'However, we suggest investors approach this as a tactical play, as the broader macroeconomic landscape remains uncertain.' The next focal point, according to Khaw, is the outcome of the United States-Malaysia tariff negotiation. iFAST's base case is for the ultimate tariff rate to hold at 19% to 25%. 'In other words, the 25% might already be the ceiling and any lower tariff rate will be a catalyst for us. 'Our end-2025 FBM KLCI target remains at 1,600 points, while the US dollar-ringgit exchange rate will hold at 4.2 to 4.3,' said Khaw.
New Straits Times
12 hours ago
- New Straits Times
Bursa Malaysia ends at intraday low despite growing optimism over 13MP announcement
KUALA LUMPUR: Bursa Malaysia closed at its intraday low on Thursday, tracking weaker regional sentiment despite optimism on Malaysia's strategic policy vision under the 13th Malaysia Plan (13MP) announcement. Prime Minister Datuk Seri Anwar Ibrahim tabled the 13MP at the Dewan Rakyat sitting today. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 11.25 points or 0.74 per cent due to late selling to settle at 1,513.25 from Wednesday's close of 1,524.50. The benchmark index opened 0.51 of-a-point firmer at 1,523.99 and hit its highest level at 1,524.05 in the early session before trending downwards throughout the rest of the day. However, the broader market was slightly positive, with gainers outpacing losers 545 to 475, while 483 counters were unchanged, 992 untraded and 53 suspended. Turnover increased to 3.77 billion units worth RM3.10 billion from 2.65 billion units worth RM2.07 billion yesterday. The local index's slide was in tandem with the negative tone across key regional markets. Hong Kong's Hang Seng Index slipped 1.60 per cent to 24,773.33, Singapore's Straits Times Index shrank 1.06 per cent to 4,173.77, South Korea's Kospi dipped 0.28 per cent to 3,245.44, while Japan's Nikkei 225 surged 1.02 per cent to 41,069.82. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the Bursa Malaysia Technology Index rebounded sharply after three consecutive sessions of decline. He said the recovery was driven by renewed investor optimism following Anwar's presentation of Malaysia's strategic policy vision under the 13MP. "The plan lays the foundation for the country's medium-term economic transformation, with a strong emphasis on inclusive growth, environmental sustainability, and technological innovation. "Flagship initiatives such as the National Artificial Intelligence Action Plan 2030, along with a concerted focus on strengthening digital infrastructure, are intended to position Malaysia as a regional hub for high-value, future-facing investments," he told Bernama. Mohd Sedek also said investors awaited clarity ahead of the United States (US) trade tariff negotiations deadline. He noted that market sentiment remains fragile, with heightened uncertainty surrounding the trajectory of US trade policy under President Donald Trump's anticipated announcement either today or tomorrow. "Additionally, investors are also monitoring whether the current tariff negotiation deadline will be extended; the imposition of new tariffs on Malaysia as the country currently faces a 25 per cent rate and other trading partners; and the potential revision or reversal of previously secured tariff arrangements. "While no official announcements have been made, the uncertainty surrounding trade policy direction has prompted many Malaysian firms to adopt a wait-and-see approach, delaying investment decisions and export orders pending further clarity," he added. Among the heavyweights, Maybank lost six sen to RM9.39, Public Bank fell eight sen to RM4.21, Tenaga Nasional dropped 26 sen to RM13.02, CIMB was flat at RM6.55, while IHH Healthcare gained two sen to RM6.65. Of the most active counters, Pharmaniaga went up 1.5 sen to 17.5 sen, Zetrix AI added 3.5 sen to 88 sen, Top Glove advanced 1.5 sen to 68.5 sen, VS Industry perked up 7.5 sen to 80.5 sen, while TWL and EA Holdings were flat at 2.5 sen and half-a-sen, respectively. Top gainers Malaysian Pacific Industries bagged 74 sen to RM20.14, Nestle climbed 68 sen to RM88.08, and Hong Leong Industries garnered 16 sen to RM13.06. As for the top losers, Hong Leong Bank dipped 30 sen to RM19, Petronas Chemicals erased 19 sen to RM3.88, and Kuala Lumpur Kepong shed 12 sen to RM19.58.
Focus Malaysia
12 hours ago
- Focus Malaysia
Bursa Malaysia ends at intraday low despite growing optimism over 13MP announcement
BURSA Malaysia closed at its intraday low on Thursday, tracking weaker regional sentiment despite optimism on Malaysia's strategic policy vision under the 13th Malaysia Plan (13MP) announcement. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 11.25 points or 0.74 per cent due to late selling to settle at 1,513.25 from Wednesday's close of 1,524.50. The benchmark index opened 0.51 of-a-point firmer at 1,523.99 and hit its highest level at 1,524.05 in the early session before trending downwards throughout the rest of the day. However, the broader market was slightly positive, with gainers outpacing losers 545 to 475, while 483 counters were unchanged, 992 untraded and 53 suspended. Turnover increased to 3.77 billion units worth RM3.10 bil from 2.65 billion units worth RM2.07 bil yesterday. ‒ July 31, 2025
