FBM KLCI falls for fourth day, bucking regional uptrend
At 5pm, the 30-stock index fell 4.5 points, or 0.3%, to 1,518.98 — just slightly above its intraday low of 1,518.38. It had earlier touched an intraday high of 1,526.94.
Gainers and losers were closely balanced, with 466 gainers against 478 losers and 460 that were flat. Volume was 3.3 billion shares, valued at RM2.22bil.
Dealers expect near-term conditions to remain lacklustre due to lingering tariff headwinds and a limited number of domestic catalysts, which could keep most market participants on the sidelines for the time being.
Among the losers on Bursa Malaysia, Panasonic Manufacturing slid 54 sen to RM13, Hong Leong Financial Group fell 44 sen to RM26.26, Ajinomoto eased 28 sen to RM14.24 and Hong Leong Bank declined 28 sen to RM19.62.
Conversely, Malaysian Pacific Industries surged RM1.78 to RM19.86, Hong Leong Industries gained 30 sen to RM14.30, PETRONAS Dagangan added 30 sen to RM20.50 and Batu Kawan rose 28 sen to RM19.18.
In the forex market, the ringgit slipped 0.32% against the US dollar to 4.2382, and declined 0.13% versus the Singapore dollar at 3.2845.
Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.63%.
Japan's Nikkei 225 rose 1.88% to close at 38,432.98, South Korea's Kospi gained 1.89% to 2,720.64, and Hong Kong's Hang Seng Index ended 1.35% higher at 23,573.38.
China's blue-chip CSI300 index rose 0.59% to close at 3,858.70, while the Shanghai Composite Index added 0.7% to finish at 3,363.45.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
4 hours ago
- The Star
On the rise: Bursa Malaysia expected to move upwards to the 1,590 level this week
KUALA LUMPUR (Bernama): Bursa Malaysia is expected to rise this week towards the 1,590 resistance level, contingent on supportive global risk sentiment and incremental clarity over semiconductor tariff trajectories, said an analyst. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said that given the weekend timing of the meeting between US President Donald Trump and Russian President Vladimir Putin, Malaysia's equity market will absorb any geopolitical repricing effects when trading resumes next week. "Domestically, the investment narrative will be shaped by further disclosures on the 13th Malaysia Plan (13MP) project allocations, while the approach of Budget 2026 -- now under two months away -- will heighten focus on stakeholder engagement sessions as potential precursors to fiscal policy direction ahead of the Prime Minister's parliamentary tabling,' he told Bernama. On the inflation front, Mohd Sedek said Malaysia's July Consumer Price Index (CPI), due for release on Friday, Aug 22, will offer the first high-frequency read on the pass-through impact of the broadened Sales and Service Tax (SST) regime. "We project headline CPI at 1.2 to 1.3 per cent year-on-year, up from 1.1 per cent in June, with core inflation expected to remain contained,' he said. Globally, Mohd Sedek said, investor attention is set to converge on Wednesday's release of the Federal Open Market Committee minutes and the Jackson Hole Symposium (Aug 21-23) -- both considered potential catalysts for repricing policy-rate expectations if a pivot narrative gains momentum. "Pre-Jackson Hole signalling from Washington has intensified, with the Trump administration adopting a more assertive communications posture than the Federal Reserve's (Fed) measured, data-dependent stance. "Treasury Secretary Scott Bessent has escalated his call from a 50-basis-point cut to a cumulative 150-basis-point reduction, amplifying political pressure on the Fed. "This shift, combined with personnel changes at the Bureau of Labor Statistics and the nomination of dovish candidates to the Federal Reserve Board, reflects a coordinated strategy to influence Fed chair Jerome Powell's policy trajectory,' he said. He added that any eventual dovish recalibration could be positioned domestically as both a political and macroeconomic victory, reinforcing the administration's narrative of executive influence over monetary normalisation. On a weekly basis, the FTSE Bursa Malaysia KLCI rose 19.36 points to 1,576.34 on Friday from 1,556.98 a week earlier. The FBM Emas Index gained 129.27 points to 11,731.06, the FBMT 100 Index climbed 132.95 points to 11,512.86, the FBM Emas Shariah Index added 20.67 points to 11,654.85, the FBM 70 Index improved 155.15 points to 16,660.68, and the FBM ACE Index advanced 106.57 points to 4,713.45. By sector, the Financial Services Index rose 499.25 points to 18,080.07, the Plantation Index increased 77.91 points to 7,504.03, and the Energy Index went up 4.11 points to 740.83. Weekly turnover dropped to 11.10 billion units worth RM11.87 billion from 12.65 billion units worth RM11.65 billion in the previous week. The Main Market volume shrank to 7.16 billion units valued at RM11.06 billion compared with 7.66 billion units valued at RM10.61 billion previously. Warrants turnover declined to 3.37 billion units worth RM453.56 million from 3.62 billion units worth RM508.07 million in the preceding week. The weekly ACE Market volume grew to 1.64 billion units valued at RM593.87 million versus 1.37 billion units valued at RM529.84 million previously. - Bernama TAGS:
The Star
7 hours ago
- The Star
US-India trade talks scheduled for August called off, source says
Trade talks between New Delhi and Washington collapsed after five rounds of negotiations. - Photo: AFP NEW DELHI: A planned visit by US trade negotiators to New Delhi from August 25-29 has been called off, a source said, delaying talks on a proposed trade agreement and dashing hopes of relief from additional US tariffs on Indian goods from Aug 27. The current round of negotiations for the proposed bilateral trade agreement is now likely to be deferred to another date that has yet to be decided, the source with direct knowledge of the matter said. The US embassy in New Delhi said it has no additional information on the trade and tariff talks, which are being handled by the United States Trade Representative (USTR). India's trade ministry did not immediately reply to a Reuters email seeking comments. Earlier this month, US President Donald Trump imposed an additional 25% tariff on Indian goods, citing New Delhi's continued imports of Russian oil in a move that sharply escalated tensions between the two nations. The new import tax, which will come into effect from Aug 27, will raise duties on some Indian exports to as high as 50% - among the highest levied on any US trading partner. Trade talks between New Delhi and Washington collapsed after five rounds of negotiations over disagreement on opening India's vast farm and dairy sectors and stopping Russian oil purchases. India's Foreign Ministry has said the country is being unfairly singled out for buying Russian oil while the United States and European Union continue to purchase goods from Russia. - Reuters
The Sun
8 hours ago
- The Sun
EU-US trade statement delayed over digital rules dispute, FT reports
BRUSSELS: The European Union is resisting US attempts to target its digital regulations as both sides finalise a delayed trade statement, according to the Financial Times. Disagreements over 'non-tariff barriers,' including EU digital rules, are stalling the joint declaration, EU officials told the newspaper. Reuters could not independently confirm the report, and the EU, White House, and State Department have yet to comment. The statement was initially expected shortly after the July deal announcement by EU President Ursula von der Leyen and US President Donald Trump. The July agreement imposed a 15% tariff on most EU goods, halving the initially proposed rate and preventing a wider trade war. Washington seeks concessions on the EU's Digital Services Act (DSA), which it claims restricts free speech and burdens US tech firms, the FT reported. The EU insists that relaxing the DSA, designed to combat illegal online content, is non-negotiable. The bloc had expected Trump to reduce EU car export tariffs from 27.5% to 15% by August 15, but this may now wait until the statement is finalised. - Reuters
