Nestlé, Banks Buck The Trend Despite Losers Outweigh The Gainers
Trading volume stood at 3.09 billion shares, with a total value of RM1.91 billion, reflecting tepid investor appetite amid ongoing global economic uncertainties.
Nestlé (M) Bhd led the top gainers list, surging RM3.88 to RM76.40, followed while Bintulu Port Holdings Bhd rose 26 sen to RM5.46. Banking counters also supported the market, with Public Bank Bhd gaining 21 sen to RM4.42 and CIMB Group Holdings Bhd climbing 15 sen to RM6.80, buoyed by expectations of steady earnings amid a resilient domestic economy.
Petron Malaysia Refining & Marketing Bhd added 15 sen to RM3.88, rounding out the top five gainers.
On the flip side, tech and consumer-related stocks led the losses. Malaysian Pacific Industries Bhd fell 72 sen to RM19.78, followed by Carlsberg Brewery Malaysia Bhd, which declined 50 sen to RM19.16, and Hong Leong Financial Group Bhd, down 40 sen to RM16.18. Bursa Malaysia Bhd, the operator of the local exchange, dropped 31 sen to RM7.69, while Fraser & Neave Holdings Bhd slipped 20 sen to RM28.68.
Analysts noted the cautious tone across markets as investors weigh inflation concerns, central bank policies and regional economic data.
With no major domestic catalysts in sight, market participants are likely to remain selective, focusing on defensive plays and dividend-yielding stocks in the near term. Related
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