Bursa ends on weak note amid subdued regional sentiment
KUALA LUMPUR : Bursa Malaysia failed to sustain earlier gains and ended the week on a weaker note, weighed down by continued selling pressure in heavyweight and midcap stocks amid downbeat regional sentiment.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said regional markets slipped after US Treasury secretary Scott Bessent announced that trade talks with China had hit a standstill, reducing confidence in a long-term reduction in tariffs.
'Investors are closely monitoring the situation, as further developments in US-China trade relations could significantly impact global markets.
'We believe that geopolitical tensions and economic data offer little reassurance, Asian markets may remain volatile in the near term,' he told Bernama.
Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Sedek Jantan noted that despite a firmer overnight lead from Wall Street, the FTSE Bursa Malaysia KLCI (FBM KLCI) failed to sustain its early gains, weighed down by continued foreign fund outflows and persistent macroeconomic and political uncertainties.
'The index has now erased much of its earlier momentum, sending the one-month return to (-2%) and hovering just above the key psychological threshold of 1,500.
'As of yesterday, foreign investors had extended their net selling streak to 10 consecutive sessions,' he added.
He said investor sentiment remains cautious as markets weigh recent changes in ministerial leadership and the potential for adjustments in the Cabinet, with attention focussed on policy continuity and Malaysia's broader economic direction.
On the global front, Sedek said uncertainty surrounding US trade policy continues to cloud market visibility.
He 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.
'While the legal process unfolds, businesses and markets are left navigating a more complex and uncertain global trade landscape,' he added.
At 5pm, the FBM KLCI slipped 10.63 points, or 0.70% to 1,508.35 from yesterday's close of 1,518.98.
The benchmark index opened 2.24 points higher at 1,521.22, and subsequently hit the day's high of 1,522.06 in early trade before losing its steady momentum to close at its intraday low.
On the broader market, decliners outnumbered gainers 616 to 336, while 417 counters were unchanged, 1,025 untraded and 86 suspended.
Turnover fell to 3.21 billion units worth RM5.04 billion compared with yesterday's 3.30 billion units worth RM2.22 billion.
Among heavyweights, Maybank shed nine sen to RM9.78, Tenaga Nasional slipped eight sen to RM14, and IHH Healthcare eased one sen to RM6.90. CIMB was five sen higher at RM6.93 while Public Bank was flat at RM4.31.
In active trade, KPJ Healthcare lost 24 sen to RM2.72, Velesto inched down 0.5 sen to 18 sen, Tanco fell four sen to RM1, while Eco-Shop and NationGate gained seven sen each to RM1.26 and RM1.51, respectively.
On the index board, the FBM Emas Index tumbled 82.53 points to 11,299.80, the FBM ACE Index fell 41.13 points to 4,551.03, and the FBMT 100 Index slid 81.02 points to 11,061.00.
The FBM Emas Shariah Index lost 109.57 points to 11,256.26 and the FBM 70 Index sank 130.80 points to 16,201.51.
By sector, the financial services index slipped 53.03 points to 17,840.54, the industrial products and services index edged down 0.37 of-a-point to 152.65, the energy index eased 0.14 of-a-point to 708.04, while the plantation index dipped 86.10 points to 7,207.85.
The Main Market volume improved to 1.88 billion units valued at RM4.82 billion against yesterday's 1.56 billion units valued at RM1.93 billion.
Warrants turnover declined to 1 billion units worth RM111.49 million from 1.37 billion units worth RM164.04 million previously.
The ACE Market volume dwindled to 318.43 million shares worth RM107.68 million from 364.60 million shares worth RM120.88 million yesterday.
Consumer products and services counters accounted for 354.31 million shares traded on the Main Market, industrial products and services (280.66 million), construction (110.97 million), technology (208.24 million), SPAC (nil), financial services (213.49 million), property (181.60 million), plantation (36.80 million), REITs (24.92 million), closed/fund (23,900), energy (139.78 million), healthcare (126.76 million), telecommunications and media (100.57 million), transportation and logistics (21.18 million), utilities (90.07 million), and business trusts (11,200).
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