Bursa Malaysia closes flat with key index slightly down
KUALA LUMPUR — Bursa Malaysia closed flat on Monday with the key index down slightly, weighed by selling in telecommunication counters.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 1.08 points, or 0.07 per cent, to 1,534.30 from Friday's close of 1,535.38.
The benchmark index opened 0.95 of a point higher at 1,536.33, and fluctuated between 1,528.93 and 1,537.27 throughout the day.
In the broader market, decliners thumped gainers 595 to 338, with 478 counters unchanged, 1,019 untraded and 42 suspended.
Turnover improved to 3.12 billion units worth RM1.63 billion compared with Friday's 2.72 billion units worth RM2.17 billion.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI trimmed earlier losses on the back of late buying interest, especially in banking counters.
'Markets across the region saw mixed results following US President Donald Trump's tariff rhetoric over the weekend, where he first threatened and later walked back on plans for increased European tariffs. Meanwhile, technology stocks came under selling pressure after Trump floated a 25 per cent tariff on iPhones and other smartphone imports,' he told Bernama.
Thong said the benchmark index of the local bourse remains range-bound amid a lack of catalysts.
'A decisive move above the 1,550–1,560 level is necessary to shift sentiment positively. For now, we expect the FBM KLCI to trade between 1,520 and 1,550 through the week,' he added.
Among heavyweight stocks, Maybank rose four sen to RM9.92, while Public Bank and IHH Healthcare added one sen each to RM4.41 and RM6.91, respectively. CIMB gained two sen to RM6.96, while Tenaga was flat at RM14.
Among active stocks, Sapura Energy, OCR Group and Harvest Miracle were unchanged at four sen, 3.5 sen and 18 sen, respectively, while Tanco Holdings added 2.5 sen to RM1 and Eco Shop fell four sen to RM1.16.
On the index board, the FBM Emas Index lost 18.35 points to 11,455.69, the FBMT 100 Index cut 14.39 points to 11,218.71, and the FBM ACE Index was down 17.87 points to 4,598.07.
The FBM Emas Shariah Index dropped 36.23 points to 11,389.98, and the FBM 70 Index lost 46.89 points to 16,303.36.
Across the sectors, the Financial Services Index was 68.50 points higher at 18,171.08, the Industrial Products and Services Index inched down 0.30 of a point to 153.74, the Energy Index eased 4.86 points to 705.91, and the Plantation Index added 5.06 points to 7,335.37.
The Main Market volume fell slightly to 1.23 billion units valued at RM1.34 billion against Friday's 1.41 billion units valued at RM1.98 billion.
Warrant turnover increased to 1.60 billion units worth RM198.00 million from 1.11 billion units worth RM130.73 million previously.
The ACE Market volume declined to 278.81 million shares worth RM86.35 million from 204.53 million shares worth RM64.75 million last Friday.
Consumer products and services counters accounted for 207.96 million shares traded on the Main Market, industrial products and services (214.60 million), construction (121.07 million), technology (139.47 million), SPAC (nil), financial services (49.22 million), property (143.76 million), plantation (96.20 million), REITs (10.83 million), closed/fund (4,900), energy (235.24 million), healthcare (29.06 million), telecommunications and media (24.26 million), transportation and logistics (21.15 million), utilities (33.36 million), and business trusts (35,200). — BERNAMA
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
an hour ago
- The Star
Climate-sceptic policies 'imperil' aviation decarbonisation by 2050: IATA
NEW DELHI (AFP): Climate-sceptic policies will "imperil" the success of decarbonisation of the aviation sector to which airlines have committed by 2050, the International Air Transport Association (IATA) said on Sunday. The emergence of leaders favouring fossil fuels, such as US President Donald Trump, and recent regulatory rollbacks, are "obviously a setback... it does imperil success on the 2050 horizon", Marie Owens Thomsen, IATA's senior vice president sustainability, told reporters. "But I don't think it's going to halt or reverse progress. I think it will just slow progress," she said at the IATA annual industry conference in India. UN aviation agency members, from the International Civil Aviation Organization (ICAO), have set the year 2050 as their goal for achieving net-zero carbon emissions for air travel -- an industry often criticised for its outsized role in climate change. The air transportation industry has faced growing pressure to deal with its contribution to the climate crisis. Currently responsible for 2.5 percent to three percent of global CO2 emissions, the sector's switch to renewable fuels is proving difficult, even if the aeronautics industry and energy companies have been seeking progress. To achieve net-zero emissions, airlines rely on non-fossil sources known as Sustainable Aviation Fuel (SAF). IATA members preceded ICAO by a year, at their 2021 General Assembly, in setting this ambitious goal, which requires colossal investments. But SAF fuels are still three to four times more expensive than petroleum-based jet fuel. Washington's new Republican administration is also however supporting the development of fossil fuels, in contrast to the preceding Democratic one of Joe Biden. - AFP
New Straits Times
4 hours ago
- New Straits Times
Iran warns of retaliation if Europe reimposes nuclear sanctions
TEHRAN: Iran on Sunday warned it would retaliate if European powers that have threatened to reimpose nuclear sanctions "exploit" a UN report showing Tehran has stepped up production of highly enriched uranium. The report by the International Atomic Energy Agency said Iran had sharply increased its stockpile of uranium enriched to up to 60 per cent, close to the roughly 90 per cent level needed for atomic weapons. Iran's total amount of enriched uranium now exceeds 45 times the limit authorised by a landmark 2015 agreement with world powers, and is estimated at 9,247.6 kilograms, according to the confidential IAEA report seen by AFP. Iranian Foreign Minister Abbas Araghchi said in a statement he had told IAEA chief Rafael Grossi in a phone call that "Iran will respond to any inappropriate action by the European parties" to the 2015 agreement, referring to Britain, France and Germany. The European trio have warned they could reimpose sanctions if they deemed Iran's nuclear programme a threat to the continent's security. Araghchi urged Grossi in their Saturday call to stop "parties from exploiting" the nuclear watchdog report "to advance their political objectives", according to the statement. The IAEA Board of Governors is set to review Iran's nuclear activities in its upcoming quarterly meeting in Vienna starting June 9. Iran rejected the IAEA report, the latest move in years-long efforts to restrict its nuclear activities over fears that it is seeking to develop nuclear weapons. The Islamic republic has denied seeking nuclear arms and says it needs the uranium for civilian power production. The report was leaked as Iran and the United States have been engaged in negotiations towards a new nuclear deal, after Washington had unilaterally abandoned the agreement between Tehran and world powers in 2018, during President Donald Trump's first term. Araghchi said on Saturday that he had received "elements" of a US proposal for a potential nuclear deal following five rounds of talks mediated by Oman. Iran would respond "in line with the principles, national interests and rights" of its people, Araghchi added in a post on X. White House press secretary Karoline Leavitt said that the United States "has sent a detailed and acceptable proposal to the Iranian regime, and it's in their best interest to accept it", the New York Times reported. The proposal was described as a series of bullet points rather than a full draft, according to the New York Times, citing officials familiar with the diplomatic exchanges. It calls on Iran to stop all enrichment of uranium and proposes creating a regional grouping to produce nuclear power, which would include Iran, Saudi Arabia and other Arab states, as well as the United States. Trump adopted a "maximum pressure" policy against Tehran after withdrawing from the 2015 agreement and reimposed sweeping sanctions which the deal had lifted in return for UN-monitored restrictions on Iran's nuclear activities. Iran has ramped up its nuclear activities since the collapse of the deal, and is now enriching uranium to 60 per cent – far above the deal's 3.67 per cent cap but below the 90 per cent needed for weapons-grade material. The 2015 deal provides for the possibility of UN sanctions being reimposed through a mechanism called "snapback" if Iran fails to fulfil its commitments, an option that expires in October.--AFP
The Sun
5 hours ago
- The Sun
Iran warns of retaliation if Europeans ‘exploit' UN nuclear report
TEHRAN: Iran on Sunday warned it would retaliate if European powers that have threatened to reimpose nuclear sanctions 'exploit' a UN report showing Tehran has stepped up production of highly enriched uranium. The report by the International Atomic Energy Agency said Iran had sharply increased its stockpile of uranium enriched to up to 60 percent, close to the roughly 90 percent level needed for atomic weapons. Iran's total amount of enriched uranium now exceeds 45 times the limit authorised by a landmark 2015 agreement with world powers, and is estimated at 9,247.6 kilograms, according to the confidential IAEA report seen by AFP. Iranian Foreign Minister Abbas Araghchi said in a statement he had told IAEA chief Rafael Grossi in a phone call that 'Iran will respond to any inappropriate action by the European parties' to the 2015 agreement, referring to Britain, France and Germany. The European trio have warned they could reimpose sanctions if they deemed Iran's nuclear programme a threat to the continent's security. Araghchi urged Grossi in their Saturday call to stop 'parties from exploiting' the nuclear watchdog report 'to advance their political objectives', according to the statement. The IAEA Board of Governors is set to review Iran's nuclear activities in its upcoming quarterly meeting in Vienna starting June 9. Iran rejected the IAEA report, the latest move in years-long efforts to restrict its nuclear activities over fears that it is seeking to develop nuclear weapons. The Islamic republic has denied seeking nuclear arms and says it needs the uranium for civilian power production. The report was leaked as Iran and the United States have been engaged in negotiations towards a new nuclear deal, after Washington had unilaterally abandoned the agreement between Tehran and world powers in 2018, during President Donald Trump's first term. US proposal Araghchi said on Saturday that he had received 'elements' of a US proposal for a potential nuclear deal following five rounds of talks mediated by Oman. Iran would respond 'in line with the principles, national interests and rights' of its people, Araghchi added in a post on X. White House press secretary Karoline Leavitt said that the United States 'has sent a detailed and acceptable proposal to the Iranian regime, and it's in their best interest to accept it', the New York Times reported. The proposal was described as a series of bullet points rather than a full draft, according to the New York Times, citing officials familiar with the diplomatic exchanges. It calls on Iran to stop all enrichment of uranium and proposes creating a regional grouping to produce nuclear power, which would include Iran, Saudi Arabia and other Arab states, as well as the United States. Trump adopted a 'maximum pressure' policy against Tehran after withdrawing from the 2015 agreement and reimposed sweeping sanctions which the deal had lifted in return for UN-monitored restrictions on Iran's nuclear activities. Iran has ramped up its nuclear activities since the collapse of the deal, and is now enriching uranium to 60 percent -- far above the deal's 3.67 percent cap but below the 90 percent needed for weapons-grade material. The 2015 deal provides for the possibility of UN sanctions being reimposed through a mechanism called 'snapback' if Iran fails to fulfil its commitments, an option that expires in October.
