Profit taking drags Bursa lower despite upbeat regional markets
KUALA LUMPUR : Bursa Malaysia closed mixed today, with the benchmark index slipping 0.15% due to profit-taking in selected blue chips, despite improving sentiment in key regional market performance, an analyst said.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices ended higher as investor sentiment improved following US president Donald Trump's announcement of a provisional ceasefire between Israel and Iran.
Back home, Thong noted that sentiment in the local bourse is likely to remain cautiously optimistic amid ongoing geopolitical developments.
'However, as peace talks have yet to reach a firm conclusion, investors are advised to remain vigilant,' he told Bernama, adding that the key index is expected to move between 1,500-1,530 this week.
Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Sedek Jantan said that investors appeared to have adopted a cautious stance today amid prevailing market conditions.
'The wait-and-see sentiment was also evident in overall market participation, as trading volume declined compared to the previous day,' he added.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 2.32 points to 1,514.29 from yesterday's close of 1,516.61.
The barometer index, which opened 2.36 points lower at 1,514.25, and moved to a low of 1,511.09 in early trade before paring some losses to a day's high of 1,519.06 during the morning session.
Meanwhile, the broader market was positive, with 634 gainers outnumbering 346 decliners, while 458 counters were unchanged, 1,000 untraded and 41 suspended.
Turnover dwindled to 2.53 billion units worth RM2.04 billion against 3.09 billion units worth RM1.91 billion recorded yesterday.
Among the heavyweights, Maybank was 13 sen firmer at RM9.80, while Public Bank slipped 11 sen to RM4.31, Tenaga Nasional slid 4 sen to RM14.26, CIMB shed 3 sen to RM6.77, and IHH Healthcare dipped 26 sen to RM6.59.
For the most actively traded stocks, oil and gas-related Reservoir Link lost 12 sen to 31 sen and Hibiscus Petroleum fell 16 sen to RM1.67, Tanco gained 2 sen to 94 sen, while Main Market debutant Cuckoo and D'nonce Technology were both flat at RM1.08 and 3 sen respectively.
On the index board, the FBM Emas Index eased 1.15 points to 11,288.03, the FBMT 100 Index decreased 11.58 points to 11,072.32, while the FBM Emas Shariah Index climbed 12.24 points to 11,224.15, the FBM 70 Index gained 6.89 points to 16,078.98, and the FBM ACE Index increased 39.86 points to 4,417.71.
By sector, the financial services index put on 5.68 points to 17,678.47, the industrial products and services index perked up 1.59 points to 148.97, while the plantation index shed 1.52 points to 7,229.03, and the energy index slipped by 18.06 points to 727.89.
The Main Market volume narrowed to 1.33 billion units valued at RM1.83 billion from 1.43 billion units valued at RM1.65 billion at yesterday's close.
Warrants turnover dwindled to 962.11 million units worth RM125.76 million against 1.26 billion units worth RM166.41 million previously.
The ACE Market volume tumbled to 241.75 million units valued at RM88.63 million from 404.29 million units valued at RM92.58 million yesterday.
Consumer products and services counters accounted for 212.95 million shares traded on the Main Market, industrial products and services (219.59 million), construction (82.64 million), technology (182.53 million), SPAC (nil), financial services (83.43 million), property (139.67 million), plantation (20.78 million), REITs (12.04 million), closed end fund (nil), energy (205.68 million), healthcare (65.67 million), telecommunications and media (47.88 million), transportation and logistics (20.45 million), utilities (34.36 million), and business trusts (27,900).
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