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The Star
9 hours ago
- Business
- The Star
Bursa Malaysia extends downtrend to close lower
KUALA LUMPUR: Bursa Malaysia closed lower on Wednesday on continuous profit-taking in selected heavyweights led by the financial services and utilities sectors. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 13.90 points or 0.91 per cent to 1,511.50 from Tuesday's close of 1,525.40 The benchmark index opened 1.63 points lower at 1,523.77 and moved between 1,510.14 and 1,526.29 throughout the session. The market breadth was negative, with 727 decliners outpacing 335 gainers and 432 counters unchanged, while 951 were untraded and eight suspended. Turnover improved to 3.18 billion shares worth RM2.44 billion, compared with 3.07 billion shares worth RM2.36 billion on Tuesday UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said telecommunications counters led gains among FBM KLCI constituents, while consumer discretionary names bore the brunt of the sell-off. However, across the broader market, all indices closed in negative territory, reflecting the cautious mood despite recent domestic interest rate cuts, he added. "Adding to the subdued tone, Indonesia's successful negotiation of a 19 per cent tariff rate with the United States (US) further dampened sentiment as Malaysia awaits clarity on its tariff status, currently set at 25%. "This development highlights Malaysia's diminishing competitive edge in regional trade, particularly against Vietnam and Indonesia,' he told Bernama. Mohd Sedek also said market jitters intensified over US President Donald Trump's proposed tariffs on the European Union (EU) and Mexico, stoking concerns that such measures could rekindle inflationary pressures following the stronger consumer price index (CPI) readings. "US headline CPI accelerated to 2.7 per cent year-on-year in June, up from 2.4 per cent in May, prompting investors to reassess expectations for Federal Reserve rate cuts. "A steady flow of negative tariff headlines, coupled with waning hopes for near-term monetary easing in the US, continued to weigh on risk sentiment,' he added. Among the heavyweight counters, Maybank fell 12 sen to RM9.53, Public Bank slipped three sen to RM4.23, Tenaga Nasional shed 22 sen to RM13.68, CIMB lost 13 sen to RM6.50 and IHH Healthcare dropped six sen to RM6.52. In active trade, NexG gained one sen to 48.5 sen, Zetrix AI added two sen to 95 sen, TWL inched up half-a-sen to three sen, while Green Ocean Corporation went down 1.5 sen to 11 sen and Tanco was one sen lower to 89.5 sen. On the index board, the FBM Emas Index declined 105.05 points to 11,371.03, the FBMT 100 Index sank 104.96 points to 11,132.65, and the FBM Emas Shariah Index fell 79.23 points to 11,403.95. The FBM 70 Index dropped 167.01 points to 16,521.39, while the FBM ACE Index went down 5.54 points to 4,582.08. By sector, the Financial Services Index dipped 258.89 points to 17,243.76, the Industrial Products and Services Index shaved 0.76 of a point to 152.63, and the Plantation Index eased 11.63 points to 7,406.79. The Energy Index inched down 3.25 points to 735.67. The Main Market volume retreated to 1.38 billion units worth RM2.11 billion from 1.44 billion units valued at RM2.07 billion on Tuesday. Warrant turnover rose to 1.49 billion units valued at RM213.66 million from 1.28 billion units worth RM172.45 million previously. The ACE Market volume decreased to 304.96 million units valued at RM112.71 million, versus 347.59 million units worth RM122.67 million yesterday. Consumer products and services counters accounted for 206.34 million shares traded on the Main Market; industrial products and services (201.02 million), construction (73.57 million), technology (293.92 million), SPAC (nil), financial services (88.88 million), property (206.53 million), plantation (12.92 million), REITs (21.71 million), closed-end fund (12,600), energy (78.45 million), healthcare (112.27 million), telecommunications and media (33.65 million), transportation and logistics (18.68 million), utilities (30.12 million), and business trusts (51,100). - Bernama
New Straits Times
14 hours ago
- Business
- New Straits Times
Bursa Malaysia extends losing streak, tracking Wall Street decline
KUALA LUMPUR: Bursa Malaysia continued its downward trend for a third straight session, tracking losses on Wall Street. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 13.90 points, or 0.91 per cent, to close at 1,511.50, down from Tuesday's finish of 1,525.40. Market sentiment remained weak, with 722 declining counters outpacing 334 gainers, while 438 stocks were unchanged. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said telecommunications stocks were the top performers among FBM KLCI components, whereas consumer discretionary counters were the most affected by the sell-off. He added that despite recent domestic interest rate cuts, all sector indices on Bursa Malaysia ended in negative territory, signalling a cautious outlook across the broader market. "Adding to the subdued tone, Indonesia's successful negotiation of a 19 per cent tariff rate with the United States further dampened sentiment, as Malaysia awaits clarity on its own tariff status, currently set at 25 per cent. "This development highlights Malaysia's diminishing competitive edge in regional trade, particularly against Vietnam and Indonesia," he added.
Malay Mail
14 hours ago
- Business
- Malay Mail
Malaysia's stock market slips as investors eye tariffs and slower rate cuts
KUALA LUMPUR, July 16 — Bursa Malaysia closed lower on Wednesday on continuous profit-taking in selected heavyweights led by the financial services and utilities sectors. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 13.90 points or 0.91 per cent to 1,511.50 from Tuesday's close of 1,525.40 The benchmark index opened 1.63 points lower at 1,523.77 and moved between 1,510.14 and 1,526.29 throughout the session. The market breadth was negative, with 727 decliners outpacing 335 gainers and 432 counters unchanged, while 951 were untraded and eight suspended. Turnover improved to 3.18 billion shares worth RM2.44 billion, compared with 3.07 billion shares worth RM2.36 billion on Tuesday UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said telecommunications counters led gains among FBM KLCI constituents, while consumer discretionary names bore the brunt of the sell-off. However, across the broader market, all indices closed in negative territory, reflecting the cautious mood despite recent domestic interest rate cuts, he added. 'Adding to the subdued tone, Indonesia's successful negotiation of a 19 per cent tariff rate with the United States (US) further dampened sentiment as Malaysia awaits clarity on its tariff status, currently set at 25 per cent. 'This development highlights Malaysia's diminishing competitive edge in regional trade, particularly against Vietnam and Indonesia,' he told Bernama. Mohd Sedek also said market jitters intensified over US President Donald Trump's proposed tariffs on the European Union (EU) and Mexico, stoking concerns that such measures could rekindle inflationary pressures following the stronger consumer price index (CPI) readings. 'US headline CPI accelerated to 2.7 per cent year-on-year in June, up from 2.4 per cent in May, prompting investors to reassess expectations for Federal Reserve rate cuts. 'A steady flow of negative tariff headlines, coupled with waning hopes for near-term monetary easing in the US, continued to weigh on risk sentiment,' he added. Among the heavyweight counters, Maybank fell 12 sen to RM9.53, Public Bank slipped three sen to RM4.23, Tenaga Nasional shed 22 sen to RM13.68, CIMB lost 13 sen to RM6.50 and IHH Healthcare dropped six sen to RM6.52. In active trade, NexG gained one sen to 48.5 sen, Zetrix AI added two sen to 95 sen, TWL inched up half-a-sen to three sen, while Green Ocean Corporation went down 1.5 sen to 11 sen and Tanco was one sen lower to 89.5 sen. On the index board, the FBM Emas Index declined 105.05 points to 11,371.03, the FBMT 100 Index sank 104.96 points to 11,132.65, and the FBM Emas Shariah Index fell 79.23 points to 11,403.95. The FBM 70 Index dropped 167.01 points to 16,521.39, while the FBM ACE Index went down 5.54 points to 4,582.08. By sector, the Financial Services Index dipped 258.89 points to 17,243.76, the Industrial Products and Services Index shaved 0.76 of a point to 152.63, and the Plantation Index eased 11.63 points to 7,406.79. The Energy Index inched down 3.25 points to 735.67. The Main Market volume retreated to 1.38 billion units worth RM2.11 billion from 1.44 billion units valued at RM2.07 billion on Tuesday. Warrant turnover rose to 1.49 billion units valued at RM213.66 million from 1.28 billion units worth RM172.45 million previously. The ACE Market volume decreased to 304.96 million units valued at RM112.71 million, versus 347.59 million units worth RM122.67 million yesterday. Consumer products and services counters accounted for 206.34 million shares traded on the Main Market; industrial products and services (201.02 million), construction (73.57 million), technology (293.92 million), SPAC (nil), financial services (88.88 million), property (206.53 million), plantation (12.92 million), REITs (21.71 million), closed-end fund (12,600), energy (78.45 million), healthcare (112.27 million), telecommunications and media (33.65 million), transportation and logistics (18.68 million), utilities (30.12 million), and business trusts (51,100). — Bernama
Barnama
2 days ago
- Business
- Barnama
Bursa Malaysia Ends At Day's Low, FBM KLCI Down 0.79 Pct
KUALA LUMPUR, July 15 (Bernama) -- Bursa Malaysia ended at an intraday low today due to persistent selling in selected heavyweights, led by the financial services and construction sectors. The benchmark index opened 1.45 points lower at 1,536.06 and hovered between 1,525.40 and 1,538.56 throughout the session. Public Bank eased 8.0 sen to RM4.26, Maybank slid 7.0 sen to RM9.65 and Gamuda gave up 13 sen to RM4.96. These counters dragged the composite index down by a combined of 5.42 points. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 12.11 points or 0.79 per cent to 1,525.40 from Monday's close of 1,537.51. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the FBM KLCI's drop today reflected a cautious undertone among investors despite an improvement in broader market sentiment. The market breadth was negative, with 601 decliners outpacing 412 gainers and 498 counters unchanged, while 918 were untraded and eight suspended. 'Investor focus remains firmly on the progress of the US-Malaysia tariff negotiations, with the Aug 1 deadline for the imposition of a 25 per cent import duty drawing near. 'The market appears to be factoring in a drawn-out negotiation process, contributing to prevailing risk aversion,' he told Bernama. Meanwhile, he said the Ministry of Investment, Trade and Industry's (MITI) announcement on trade permit for artificial intelligence (AI) chips is a welcome step towards regulatory clarity while persistent concerns over potential US export controls on AI chip shipments to Malaysia continue to cast a shadow over sentiment particularly within the technology and semiconductor sectors. 'Nonetheless, from a medium to longer-term perspective, we see the strengthening of governance and compliance standards as a positive structural shift that may enhance Malaysia's competitive positioning within global value chains, potentially serving as a future catalyst for investor confidence,' he added. Among other heavyweight counters, CIMB reduced 6.0 sen to RM6.63, Hong Leong Bank lost 26 sen to RM19.30, Tenaga Nasional decreased 8.0 sen to RM13.90, 99 Speed Mart added 3.0 sen to RM2.30 and Sunway rose 4.0 sen to RM4.92. In active trade, Zetrix AI was 5.5 sen lower at 93 sen, Nationgate shed 12 sen to RM1.49, Dagang NeXchange weakened 1.0 sen to 30.5 sen, NexG gained half-a-sen to 47.5 sen while Tanco was flat at 90.5 sen. On the index board, the FBM Emas Index declined 82.38 points to 11,476.08, the FBMT 100 Index sank 83.43 points to 11,237.61 and the FBM Emas Shariah Index fell 77.42 points to 11,483.18. The FBM 70 Index dropped 98.80 points to 16,688.40, while the FBM ACE Index improved 16.10 points to 4,587.62. By sector, the Financial Services Index dipped 161.22 points to 17,502.65, the Industrial Products and Services Index shaved 0.48 of a point to 153.39 and the Plantation Index eased 15.68 points to 7,418.42. The Energy Index inched down 8.46 points to 738.92. The Main Market volume rebounded to 1.44 billion units worth RM2.07 billion from 1.13 billion units valued at RM1.35 billion on Monday. Warrant turnover slipped to 1.28 billion units valued at RM172.45 million from 1.46 billion units worth RM208.01 million previously. The ACE Market volume increased to 347.59 million units valued at RM122.67 million versus 342.18 million units worth RM113.55 million yesterday. Consumer products and services counters accounted for 171.02 million shares traded on the Main Market; industrial products and services (350.21 million), construction (107.34 million), technology (365.39 million), SPAC (nil), financial services (54.91 million), property (134.33 million), plantation (13.85 million), REITs (28.72 million), closed-end fund (3,400), energy (69.98 million), healthcare (50.38 million), telecommunications and media (30.08 million), transportation and logistics (37.56 million), utilities (28.22 million), and business trusts (24,300). -- BERNAMA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio Twitter : @ @BernamaTV, @bernamaradio Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial TikTok : @bernamaofficial
New Straits Times
2 days ago
- Business
- New Straits Times
Bursa Malaysia ends lower as tariff concerns weigh on investor sentiment
KUALA LUMPU: Bursa Malaysia ended lower today, reflecting a cautious undertone among investors despite an improvement in broader market sentiment, an analyst said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 12.11 points or 0.8 per cent to 1,525.40 from Monday's close of 1,537.51. The benchmark index opened 1.45 points lower at 1,536.06 The market breadth was negative, with losers outnumbering gainers 601 to 412, while 498 counters were unchanged, 910 untraded and nine suspended. Turnover stood at 3.07 billion shares worth RM2.36 billion compared to 2.93 billion units worth RM1.67 billion on Monday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said investor attention remains focused on the United States-Malaysia tariff negotiations, ahead of the Aug 1 deadline for a proposed 25 per cent import duty on Malaysian goods. He said the market appears to be factoring in a drawn-out negotiation process, contributing to prevailing risk aversion. While the Investment, Trade and Industry Ministry's approval of a strategic trade permit for artificial intelligence (AI) chips is a positive move, he said concerns over possible US export controls on AI chip shipments to Malaysia continue to weigh on sentiment, especially in the technology and semiconductor sectors. "Nonetheless, from a medium- to longer-term perspective, we see the strengthening of governance and compliance standards as a positive structural shift that may enhance Malaysia's competitive positioning within global value chains, potentially serving as a future catalyst for investor confidence," he added.
