Bursa Malaysia ends flat as investors await US trade cues, telcos climb while utilities lose steam
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.45 points or 0.03 per cent to 1,536.07 from yesterday's close of 1,536.52.
The benchmark index had opened 1.36 points higher at 1,537.88 and hovered between 1,530.77 and 1,541.94 throughout the session.
However, the market breadth was positive, with 510 gainers outpacing 450 decliners.
A total of 532 counters were unchanged, while 926 were untraded and 10 suspended.
Turnover rose to 3.37 billion shares worth RM2.30 billion, compared with 3.25 billion shares worth RM2.45 billion yesterday.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research, Mohd Sedek Jantan, said the benchmark index touched an intraday high of 1,541.94 before retreating in the afternoon session, reflecting intermittent profit-taking and a lack of conviction amid external policy uncertainty.
Despite the subdued tone, he noted that the underlying momentum remains intact, as valuations continue to look attractive relative to 2024 levels, particularly for long-term investors with a value bias.
'Telecommunications stocks led the gainers, buoyed by balance sheet improvements and investor optimism over earnings quality. Conversely, the utilities sector came under pressure, with investors locking in gains following a notable two-week rebound,' he told Bernama.
On the regional front, Mohd Sedek said the market shows early signs of portfolio reallocation by US-based institutional investors.
'This trend, if sustained, could provide structural support for regional equities, Malaysia included, as tariff risk escalations and a pivot toward looser monetary conditions increase the relative appeal of Asia,' he said.
Among the heavyweight counters, Maybank lost four sen to RM9.69, but Public Bank gained two sen to RM4.32, Tenaga Nasional was flat at RM13.96, while CIMB slipped two sen to RM6.68, and IHH Healthcare was seven sen lower at RM6.58.
In active trade, Zetrix AI and Dagang Nexchange garnered two sen each to RM1 and 32 sen, respectively.
Tanco and NexG both improved half-a-sen to 90.5 sen and 45 sen, respectively, while Sapura Energy reduced half-a-sen to 3.5 sen. — Bernama
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