Bursa Malaysia lower at midday on profit-taking
KUALA LUMPUR: Bursa Malaysia ended the morning session lower, dragged down by profit-taking in selected heavyweights amid a broadly weaker regional market performance following a Wall Street selloff overnight.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.23 points, or 0.21 per cent, to 1,532.15 from Friday's close of 1,535.38.
The benchmark index opened 0.95 of-a-point higher at 1,536.33, and fluctuated between 1,530.75 and 1,537.27 throughout the morning session.
Market breadth was negative with 554 decliners and 248 gainers, while 429 counters were unchanged, 1,199 untraded and 42 suspended.
Turnover stood at 2.04 billion shares valued at RM792.32 million.
Hong Leong Investment Bank Bhd in a note today said the FBM KLC is expected to remain choppy in the near term as investors stay cautious during the corporate earnings climax this week, compounded by renewed foreign net outflows.
"Sentiment is likely to stay soft amid rising fears that a tariff-driven global slowdown could undermine Malaysia's economic momentum and corporate earnings.
"Caution is likely to persist until a clear and sustainable trade agreement is reached between the US and its key partners, including Malaysia," it said.
The investment bank said sentiment was further dampened by concerns over widening US fiscal deficit, erratic US trade policies, and the US Federal Reserve's data-dependent approach to interest rate decisions, all set against a backdrop of rising recession or stagflation risks.
"These macro uncertainties are expected to limit near-term upside and restrain risk appetite," it added.
Among heavyweights, Maybank and Tenaga Nasional were flat at RM9.88 and RM14 respectively, while Public Bank added three sen to RM4.43. CIMB and IHH Healthcare shed one sen each to RM6.93 and RM6.89, respectively.
As for active stocks, Harvest Miracle, OCR Group and Sapura Energy were flat at 18 sen, 3.5 sen and four sen, respectively, while Tanco Holdings added one sen to 98.5 sen and Velesto inched up half-a-sen to 17 sen.
On the index board, the FBM Emas Index lost 36.24 points to 11,437.81, the FBMT 100 Index shaved 33.73 points to 11,199.36, and the FBM ACE Index went down 30.68 points to 4,585.26.
The FBM Emas Shariah Index decreased 55.35 points to 11,370.86 and the FBM 70 Index tumbled 89.43 points to 16,260.83.
Across sectors, the Financial Services Index was 19.01 points better at 18,121.59, the Industrial Products and Services Index inched down 0.70 of-a-point to 153.34, the Energy Index eased 2.71 points to 708.06, and the Plantation Index increased 2.71 points to 7,333.02.
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Malay Mail
14 hours ago
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Bursa Malaysia in correction mode next week, say analysts, as traders eye break above 1,535
KUALA LUMPUR, June 1 — The FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to trade within a volatile range of 1,500 to 1,530 next week, pending the emergence of new market-moving developments. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said market sentiment will remain subdued, with investors maintaining a wait-and-see approach. 'From a technical standpoint, the FBM KLCI is in a correction phase, trading below its key moving averages, with technical indicators pointing to short-term weakness. 'Nonetheless, there are signs that the index may be positioning for a recovery, particularly if macroeconomic pressures subside and regional sentiment improves,' he told Bernama. Thong said a clear break above the 1,535 level could confirm a shift towards bullish momentum. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the FBM KLCI is expected to trade in a narrow range in the absence of clear catalysts. 'Should the index fall below the 1,500 level, bargain hunting may emerge — especially in undervalued large-cap names. 'Volatility may also increase due to several external triggers. South Korea's presidential election on Tuesday could influence regional sentiment, while investors will be closely monitoring a series of economic data releases from China, Japan, South Korea, Taiwan, and Malaysia — including updates on exports, inflation, and purchasing managers' indices,' he said. Mohd Sedek noted that Bursa Malaysia will see a shortened four-day trading week next week, due to the long weekend, which could lead to thinner trading volumes and heightened market volatility. 'Investors should remain vigilant, maintain diversified portfolios, and be prepared for intermittent of volatility as uncertainty continues to shape the investment landscape,' he added. Mohd Sedek said a US appeals court has stayed a prior ruling that had blocked President Donald Trump's use of reciprocal tariffs under the 1977 International Emergency Economic Powers Act, raising fresh questions about the future direction of US trade enforcement. Bursa Malaysia Bhd and its subsidiaries will be closed on June 2, 2025, in conjunction with the official birthday of His Majesty Sultan Ibrahim, King of Malaysia. The exchange and its subsidiaries will resume operations on Tuesday, June 3, 2025. For the week just ended, Bursa Malaysia retreated from earlier gains and ended lower on Friday weighed down by continued selling pressure in heavyweight and mid-cap stocks amid downbeat regional sentiment, following the uncertainty surrounding US trade policy. On a Friday-to-Friday basis, the barometer index fell 27.03 points to 1,508.35 from 1,535.38 a week earlier. The FBM Emas Index dipped 174.25 points to 11,299.80, the FBMT 100 Index slipped 172.10 points to 11,061.00, and the FBM Emas Shariah Index declined 169.96 points to 11,256.26. The FBM 70 Index lost 148.75 points to 16,201.51, and the FBM ACE Index fell 64.91 points to 4,551.03. Across sectors, the Financial Services Index tumbled 262.04 points to 17,840.54, the Industrial Products and Services Index was 1.39 points easier at 152.65, and the Energy Index shed 2.73 points to 708.04. The Plantation Index shrank 122.46 points to 7,207.85 and the Healthcare Index dropped 16.94 points to 1,816.95. Turnover advanced to 14.80 billion units valued at RM12.78 billion from 14.05 billion units valued at RM11.28 billion in the preceding week. The Main Market volume improved to 7.21 billion units worth RM11.50 billion against 7.14 billion units worth RM10.06 billion. Warrants turnover expanded to 5.90 billion units worth RM721.75 million against 5.13 billion units worth RM645.54 million a week ago. The ACE Market volume narrowed to 1.66 billion units valued at RM543.90 million from 1.78 billion units valued at RM563.52 million. — Bernama
The Sun
a day ago
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Bursa Malaysia likely to see volatile trading next week pending key market developments
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The Sun
a day ago
- The Sun
FBM KLCI to trade between 1,500 -1,530 amid uncertainty
KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to trade within a volatile range of 1,500 to 1,530 next week, pending the emergence of new market-moving developments. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said market sentiment will remain subdued, with investors maintaining a wait-and-see approach. 'From a technical standpoint, the FBM KLCI is in a correction phase, trading below its key moving averages, with technical indicators pointing to short-term weakness. 'Nonetheless, there are signs that the index may be positioning for a recovery, particularly if macroeconomic pressures subside and regional sentiment improves,' he told Bernama. Thong said a clear break above the 1,535 level could confirm a shift towards bullish momentum. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the FBM KLCI is expected to trade in a narrow range in the absence of clear catalysts. 'Should the index fall below the 1,500 level, bargain hunting may emerge — especially in undervalued large-cap names. 'Volatility may also increase due to several external triggers. South Korea's presidential election on Tuesday could influence regional sentiment, while investors will be closely monitoring a series of economic data releases from China, Japan, South Korea, Taiwan, and Malaysia — including updates on exports, inflation, and purchasing managers' indices,' he said. Mohd Sedek noted that Bursa Malaysia will see a shortened four-day trading week next week, due to the long weekend, which could lead to thinner trading volumes and heightened market volatility. 'Investors should remain vigilant, maintain diversified portfolios, and be prepared for intermittent of volatility as uncertainty continues to shape the investment landscape,' he added. Mohd Sedek said a US appeals court has stayed a prior ruling that had blocked President Donald Trump's use of reciprocal tariffs under the 1977 International Emergency Economic Powers Act, raising fresh questions about the future direction of US trade enforcement. Bursa Malaysia Bhd and its subsidiaries will be closed on June 2, 2025, in conjunction with the official birthday of His Majesty Sultan Ibrahim, King of Malaysia. The exchange and its subsidiaries will resume operations on Tuesday, June 3, 2025. For the week just ended, Bursa Malaysia retreated from earlier gains and ended lower on Friday weighed down by continued selling pressure in heavyweight and mid-cap stocks amid downbeat regional sentiment, following the uncertainty surrounding US trade policy. On a Friday-to-Friday basis, the barometer index fell 27.03 points to 1,508.35 from 1,535.38 a week earlier. The FBM Emas Index dipped 174.25 points to 11,299.80, the FBMT 100 Index slipped 172.10 points to 11,061.00, and the FBM Emas Shariah Index declined 169.96 points to 11,256.26. The FBM 70 Index lost 148.75 points to 16,201.51, and the FBM ACE Index fell 64.91 points to 4,551.03. Across sectors, the Financial Services Index tumbled 262.04 points to 17,840.54, the Industrial Products and Services Index was 1.39 points easier at 152.65, and the Energy Index shed 2.73 points to 708.04. The Plantation Index shrank 122.46 points to 7,207.85 and the Healthcare Index dropped 16.94 points to 1,816.95. Turnover advanced to 14.80 billion units valued at RM12.78 billion from 14.05 billion units valued at RM11.28 billion in the preceding week. The Main Market volume improved to 7.21 billion units worth RM11.50 billion against 7.14 billion units worth RM10.06 billion. Warrants turnover expanded to 5.90 billion units worth RM721.75 million against 5.13 billion units worth RM645.54 million a week ago. The ACE Market volume narrowed to 1.66 billion units valued at RM543.90 million from 1.78 billion units valued at RM563.52 million.
