Bursa ends lower amid renewed investor caution
The local bourse tracked losses across Asia as investors await US President Donald Trump's final decision on trade deals.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 12.65 points, or 0.82%, 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 head of investment research Sedek Jantan said trade tensions resurfaced after Trump reaffirmed his intention to impose unilateral tariffs on a broad range of countries.
'This has reignited uncertainty across global markets, dampening sentiment and triggering a risk-off tone,' he told Bernama.
He said all sectoral indices on Bursa ended in negative territory.
'Nonetheless, total trading volume remained elevated, surpassing the three billion shares mark – signalling sustained retail and institutional participation despite prevailing uncertainty,' he added.
Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng described the day's profit-taking as a healthy correction, allowing the market to consolidate its recent gains and establish a firmer base for a sustainable uptrend.
'We believe that as long as the benchmark index stays above the 1,530 level, the mid-term rally remains intact. As such, we expect the FBM KLCI to trend between 1,530 and 1,560 this week, marking its support and resistance levels,' he said.
Among heavyweights, Maybank and CIMB each slipped 2 sen to RM9.72 and RM6.75 respectively, Public Bank fell 5 sen to RM4.33, Tenaga Nasional dropped 26 sen to RM13.80, and IHH Healthcare eased 3 sen to RM6.72.
In active trade, NexG rose 2 sen to 42 sen, NationGate declined 15 sen to RM1.63, Zetrix AI fell 4.5 sen to 95 sen, while Tanco added 0.5 sen to 89.5 sen.
On the index board, the FBM Emas Index declined 99.06 points to 11,518.66, the FBMT 100 Index dropped 97.47 points to 11,293.23, and the FBM Emas Shariah Index fell 117.09 points to 11,500.73.
The FBM 70 Index sank 163.59 points to 16,623.45, while the FBM ACE Index lost 52.78 points to 4,473.62.
By sector, the financial services index narrowed 69.26 points to 17,721.96, the industrial products and services index edged down 1.67 points to 155.41, and the plantation index eased 3.73 points to 7,445.01, while the energy index ticked down 4.02 points to 737.59.
Main Market volume fell to 1.47 billion units worth RM2.16 billion from 1.96 billion units valued at RM2.25 billion on Friday.
Warrants turnover increased to 1.83 billion units valued at RM228.26 million from 1.20 billion units worth RM126.56 million previously.
ACE Market volume eased to 267.85 million units valued at RM112.77 million versus 274.38 million units worth RM90.83 million last Friday.
Consumer products and services counters accounted for 153.71 million shares traded on the Main Market, industrial products and services (250.64 million), construction (132.18 million), technology (259.83 million), SPAC (nil), financial services (58 million), property (205.11 million), plantation (14.87 million), REITs (15.46 million), closed-end fund (4,000), energy (73.42 million), healthcare (171.72 million), telecommunications and media (26.74 million), transportation and logistics (23.95 million), utilities (88.33 million), and business trusts (156,700).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
39 minutes ago
- The Star
Corporate earnings in 2Q likely to remain positive
Rakuten Trade head of research Kenny Yee. PETALING JAYA: Early indicators of corporate Malaysia's second-quarter (2Q) earnings point to continued strength in the banking, technology, consumer and utilities sectors. Rakuten Trade head of research Kenny Yee said its initial review of 2Q results and guidance from key players showed encouraging signs in financial services and selected export-orientated technology stocks. He also noted that with the ringgit remaining relatively stable and consumer sentiment improving, the research house anticipates a moderate rebound in consumer-facing stocks. 'Traders should closely track updates from banking heavyweights, large-cap tech and staple consumer names to position for medium-term growth,' Yee said in a statement. According to Rakuten Trade, select counters are expected to deliver resilient earnings, supported by stable demand, cost optimisation and regional tailwinds. It said banks are likely to benefit from sustained interest income strength. Meanwhile, technology stocks, especially those linked to global semiconductor and artificial intelligence value chains, are showing early signs of recovery. Among early reporters this quarter, Fraser & Neave Holdings Bhd posted a 15.16% year-on-year (y-o-y) decline in the 2Q of financial year 2025 net profit to RM140.3mil, attributed to higher tax expenses, startup losses from its dairy operations and softer revenue. Westports Holdings Bhd recorded a 15% y-o-y increase in its 2Q net profit to RM231mil, supported by higher throughput. Axis Real Estate Investment Trust net income rose 20.5% y-o-y to RM46.9mil, driven by higher property income. Meanwhile, Hartalega Holdings Bhd 's net profit for the first quarter of financial year ending March 2026 dipped 60% y-o-y to RM12.6mil due to weaker average selling prices, a stronger ringgit and lower capacity utilisation. Additionally, Ramssol Group Bhd posted a 31% gain y-o-y in its net profit due to certain projects with higher profit margins and the distributorship of human capital management licences. With investor sentiment expected to fluctuate throughout August, Rakuten Trade said it encourages market participants to leverage its digital-first trading platform to capture opportunities across both local and foreign markets. Rakuten Trade chief executive officer Kazumasa Mise said he expects this earnings season to stir market activity, creating timely opportunities for traders. UOB Kay Hian wealth adviser's head of investment research Mohd Sedek Jantan said investors are also closely scrutinising a wave of corporate earnings results to assess how businesses are adapting to the evolving macroeconomic environment and ongoing uncertainty surrounding US President Donald Trump's tariff agenda. The re-emergence of protectionist policy risk remains a key source of volatility for global markets. 'Back home, renewed interest in domestically-orientated sectors helped cushion the local bourse. 'Active rotation into consumer and healthcare stocks, alongside persistent trading interest in the banking sector, supported the index's recovery. 'On the broader market, the Bursa Malaysia Construction Index and Financial Services Index outperformed, reflecting sector-specific tailwinds,' he said. Mohd Sedek added that sentiment within the construction sector has strengthened following policy clarity under the 13th Malaysia Plan, particularly relating to large-scale infrastructure rollouts such as road upgrade projects and the Penang light rail transit initiative. 'These developments have revived investor optimism around cyclical and project-driven segments of the market, signalling greater confidence in the domestic investment pipeline amid global uncertainty.'
Free Malaysia Today
5 hours ago
- Free Malaysia Today
Pharmaniaga completes regularisation plan, to exit PN17 early 2026
Pharmaniaga Bhd fell into PN17 status in February 2023, dragged by its RM552.3 million provision for 'slow-moving inventories' of Covid-19 vaccines. KUALA LUMPUR : Pharmaniaga Bhd has completed its Practice Note 17 (PN17) regularisation plan following the completion of its capital reduction exercise through the cancellation of RM520 million in issued share capital. The pharmaceutical company said this step firmly sets the group on course to exit the PN17 status latest by the first quarter of 2026. 'The capital reduction exercise, which involved the cancellation of RM520 million in issued share capital, was completed after confirmation was received today from the registrar of companies that all statutory requirements have been fulfilled. 'Following the completion of this exercise, the issued share capital of the group is RM249.62 million, comprising 6.55 billion shares,' it said in a statement. Pharmaniaga fell into PN17 status in February 2023, dragged by its RM552.3 million provision for 'slow-moving inventories' of Covid-19 vaccines. At the close of trading today, the counter finished unchanged at 18.5 sen, with 28.69 million shares changing hands.
The Star
6 hours ago
- The Star
South Korea to offer visa-free entry to Chinese tourists from late September
A large crowd of tourists walks through Bukchon Hanok Village in Seoul, South Korea, October 25, 2024. - Photo: Reuters file SEOUL: South Korea will offer visa-free entry to tourist groups from China, for a temporary period from September 29 through June 2026, to boost foreign tourism ahead of an Asia-Pacific summit, the government said on Wednesday (Aug 6). The visa-free offer was first announced in March after China's decision last November to offer a visa exemption to South Koreans and foreign visitors from other countries. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. It also comes amid expectations that ties between the two countries will improve under the new South Korean administration of liberal President Lee Jae Myung. The decision to introduce the measure ahead of a Chinese holiday period in early October will help boost the domestic economy amid a recovery in foreign visits, the tourism ministry said, after a meeting to discuss measures to revitalise tourism ahead of the Asia-Pacific summit. South Korea will host a summit of leaders from 21 economies for the Asia-Pacific Economic Cooperation (APEC) forum from October 31 to November 1 in the southeastern city of Gyeongju, a gathering where Chinese leader Xi Jinping and U.S. President Donald Trump might hold separate talks. Shares of South Korean department stores, casinos, hotels and beauty product makers rallied on hopes of a boost from Chinese demand. Hyundai Department Store ( opens new tab shares jumped 7.1%, Hotel Shilla ( opens new tab rose 4.8%, casino operator Paradise ( opens new tab climbed 2.9% and Hankook Cosmetics ( opens new tab surged 9.9%. - Reuters
