Bursa Malaysia Ends Lower, Tracks Regional Losses On Trade Jitters
KUALA LUMPUR, July 7 (Bernama) -- Bursa Malaysia closed lower on Monday, reversing last week's gains, as regional markets weakened amid renewed investor caution ahead of the July 9 tariff deadline, analysts said.
The local bourse tracked losses across Asia as investors awaited United States President Donald Trump's final decision on trade deals.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 12.65 points, or 0.82 per cent, to 1,537.54, down from last Friday's close of 1,550.19.
The benchmark opened 5.45 points lower at 1,544.74 and touched an intraday low of 1,534.67 in early trade.
Market breadth was negative, with 754 decliners outpacing 260 gainers. A total of 466 counters were unchanged, while 944 were untraded and 19 suspended.
Turnover rose to 3.57 billion shares worth RM2.49 billion, compared with 3.43 billion shares worth RM2.47 billion on Friday.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said trade tensions resurfaced after Trump reaffirmed his intention to impose unilateral tariffs on a broad range of countries.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
4 hours ago
- The Star
FBM KLCI slips to intraday low; NationGate falls on MACC raid
KUALA LUMPUR: The FBM KLCI closed at its intraday low on Tuesday, underperforming regional peers as selling pressure and cautious sentiment weighed on the local market, despite broad gains across major Asian bourses. The FBM KLCI slipped 12.11 points, or 0.8%, to close at its intraday low of 1,525.40. It had earlier touched a high of 1,538.56. Today's decline marks the index's biggest drop since it fell 0.82% on July 7. Selling pressure persisted as 601 counters fell while 412 rose, bringing market breadth to 0.14. Decliners outpaced gainers, reflecting a cautious tone in the broader market. Traded volume stood at 3.1 billion shares valued at RM2.4bil. Among the decliners, Heineken slid 40 sen to RM24.50, Malaysian Pacific Industries fell 38 sen to RM20.40, F&N declined 28 sen t RM28.70 and Hong Leong Bank gave up 26 sen to RM19.30. Gainers included Riverview, which rose 15 sen to RM3.00, Master-Pack, which added 12 sen to RM3.15, United Plantations, which gained eight sen to RM21.70, and KPS Consortium , which climbed 7.5 sen to 56.5 sen. NationGate Holdings fell 12 sen, or 7.45%, to RM1.49 with 160.51 million shares traded, making it one of the most active counters on Bursa Malaysia. In a filing with Bursa Malaysia today, Nationgate announced that the Malaysian Anti-Corruption Commission (MACC) had raided the premises of one of its subsidiaries as part of an ongoing investigation into alleged scrap metal smuggling. Earlier in the day, it was reported that the MACC had launched a major operation targeting scrap metal smuggling syndicates across five states, with the illicit activities estimated to have caused over RM950mil in lost tax revenue. NationGate Holdings fell 12 sen, or 7.45%, to RM1.49 with 160.51 million shares traded, making it one of the most active counters on Bursa Malaysia. The Malaysian Anti-Corruption Commission (MACC) has conducted a raid at the premises of a subsidiary of Nationgate as part of an ongoing investigation into allegations of scrap metal smuggling, the company announced in a stock exchange filing today. It was reported earlier today that the MACC has launched a major crackdown on scrap metal smuggling syndicates in five states. These smuggling activities were reported to have resulted in an estimated tax revenue loss of over RM950mil. Meanwhile, the ringgit strengthened 0.29% against the US dollar to 4.2410, and rose 0.3% against the Singapore dollar to 3.3108. In contrast with the local bourse, regional markets ended higher. MSCI's Asia ex-Japan stock index was higher by 1.05%. Japan's Nikkei 225 rose 0.55%, South Korea's Kospi gained 0.41%, Hong Kong's Hang Seng climbed 1.6%, China's CSI 300 edged up 0.035%, and Singapore's Straits Times Index added 0.3%.
Barnama
4 hours ago
- Barnama
Outsourcing Parking Is Not New In Selangor
SHAH ALAM, July 15 (Bernama) -- Parking management through a concessionaire has been in use in Selangor since 1996 and as of June, five local authorities (PBTs) still outsourced parking management to concessionaires, says State Local Government and Tourism Committee chairman Datuk Ng Suee Lim. Ng said the implementation of concessionary parking management, which will be signed and enforced on Aug 1, will improve the existing system. "This (privatisation) has its pros and cons, so this time the state is ensuring a win-win situation by adopting the approach of using Smart Intelligent Parking (SIP), with the Menteri Besar Selangor Incorporated or Selangor MBI playing a role in parking management," he said at his office at the Selangor State Secretariat Building (SUK) today. Ng said the decision to implement the management system stemmed from the 33rd/2024 State Executive Council Meeting (MMKN) which convened on Nov 28, 2024, and was confirmed in the 34th/2024 MMKN on Dec 6, 2024. 'The Selangor government agreed in principle to implement parking management (TLK) through a collaboration between the Selangor MBI and private companies. 'Then the 12th/MMKN 2025 on April 23, 2025, confirmed by the 13th/MMKN 2025 on April 30, 2025, agreed that a wholly owned subsidiary under the MBI Group, namely Rantaian Mesra Sdn Bhd, be appointed to implement the Smart TLK management in the state of Selangor,' he said. Meanwhile, Ng said the Smart Parking model would involve a tripartite collaboration between the local authority (PBT) as the body determining policy, payment rates and parking zones, Rantaian Mesra as the system coordinator responsible for technical reporting, and the concessionaire appointed. "This implementation will be formalised through a tripartite agreement between the specific PBT, the concessionaire and Rantaian Mesa Sdn. Bhd to define clearly each party's role, scope and responsibility that comply with the prescribed governance," he said. Ng said the concessionaire would invest RM200 million for the Smart Parking Infrastructure, including the installation of 1,800 closed-circuit cameras in the four PBTs involved in the first phase.
Barnama
5 hours ago
- Barnama
MITI Urged To Step Up Anti-Corruption Engagement With Business Community
PUTRAJAYA, July 15 (Bernama) -- The Ministry of Investment, Trade and Industry (MITI) has been urged to intensify engagement with the business community and investors to gather feedback on corruption-related issues that could impact Malaysia's business and investment prospects. This reform strategy was among key priorities identified during the meeting of the Corruption Perceptions Index (CPI) Special Task Force chaired by Chief Secretary to the Government Tan Sri Shamsul Azri Abdul Bakar here today. In a statement issued after the meeting, the Task Force said the engagement sessions should also involve the Special Task Force to Facilitate Business (PEMUDAH). Other priority reform strategies identified by the CPI Focus Group include fostering a culture of integrity and adopting technology to combat corruption, with local authorities (PBT) being positioned as role models for other municipal councils. 'The CPI Special Task Force, under the leadership of the Chief Secretary, remains fully committed to strengthening governance and anti-corruption efforts through a whole-of-government approach. 'The Task Force expressed hope that the strategic initiatives it is implementing will positively influence Malaysia's performance in future CPI rankings and bolster public and investor confidence in the nation's governance system,' the statement read. It also noted that Malaysia's performance in the IMD World Competitiveness Ranking 2025 showed significant improvement, climbing 11 spots from 34th in 2024 to 23rd this year. 'The Bribery and Corruption indicator, which improved by 12 positions, also contributed to the overall rise in Malaysia's competitiveness ranking,' the statement added. The meeting today was attended by Malaysian Anti-Corruption Commission (MACC) Chief Commissioner Tan Sri Azam Baki and members of the CPI Special Task Force.
