Bursa extends losses amid risk-off sentiment
KUALA LUMPUR : The FTSE Bursa Malaysia KLCI (FBM KLCI) has extended its decline for a fourth consecutive session today, underscoring a deepening risk-off sentiment across Malaysia's equity market, said an analyst.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Sedek Jantan noted that foreign investors remained net sellers on both Monday and Tuesday, amplifying the sell-off as external macroeconomic and geopolitical headwinds continue to dominate investor positioning.
'Market sentiment remains fragile as global investors weigh persistent political and fiscal uncertainty in the US,' he told Bernama.
Despite resilient domestic fundamentals, evidenced by strong export figures released, the local market performance remains largely dictated by exogenous variables.
'Until greater clarity emerges on the US fiscal path and monetary policy trajectory, market volatility is likely to persist, warranting a cautious but opportunistic approach,' he added.
At 5pm, the FBM KLCI fell 4.07 points, or 0.26%, to 1,544.80 from yesterday's close of 1,548.87.
The benchmark index opened 4.07 points higher at 1,552.94 and fluctuated between 1,542.47 and 1,553.84 throughout the trading session.
In the broader market, losers thumped gainers 649 to 342, while 464 counters were unchanged, 963 untraded, and seven suspended.
Turnover increased to 3.27 billion units worth RM2.16 billion against 2.61 billion units worth RM1.98 billion yesterday.
Among heavyweights, IHH Healthcare added one sen to RM6.96, CelcomDigi rose two sen to RM3.90, Hong Leong Bank advanced 10 sen to RM20, Press Metal Aluminium climbed nine sen to RM5.05, MISC was flat at RM7.66, while Maybank, Tenaga Nasional and CIMB all fell four sen to RM10, RM14.10 and RM7, respectively.
For active stocks, Harvest Miracle and MyEG perked up 0.5 sen each to 18.5 sen and 90 sen, respectively.
Tanco increased one sen to 96.5 sen, Sarawak Cable shed five sen to three sen, Inari Amertron slipped 15 sen to RM1.87, and NationGate went down four sen to RM1.57.
On the index board, the FBM Emas Index shed 41.23 points to 11,525.68, the FBMT 100 Index slid 34.20 points to 11,282.77, the FBM Emas Shariah Index went down 17.23 points to 11,445.65, the FBM 70 Index lost 67.47 points to 16,345.90, and the FBM ACE Index shaved off 27.49 points to 4,626.05.
Across sectors, the financial services index tumbled 100.05 points to 18,215.87, the industrial products and services index eased 1.41 points to 155.05, the energy index slipped 1.81 points to 712.96, while the plantation index rose by 48.85 points to 7,329.78.
The Main Market volume expanded to 1.33 billion units valued at RM1.87 billion from yesterday's 1.17 billion units valued at RM1.75 billion.
Warrants turnover advanced to 1.62 billion units worth RM191.45 million from 1.07 billion units worth RM128.67 million yesterday.
The ACE Market volume declined to 327.86 million units worth RM96.64 million from 363.69 million units worth RM102.09 million previously.
Consumer products and services counters accounted for 208.40 million shares traded on the Main Market, industrial products and services (281.74 million), construction (110.26 million), technology (190.91 million), SPAC (nil), financial services (69.37 million), property (146.26 million), plantation (17.55 million), REITs (9.50 million), closed/fund (nil), energy (139.13 million), healthcare (37.16 million), telecommunications and media (35.97 million), transportation and logistics (26.06million), utilities (5383 million), and business trusts (300).
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