28-05-2025
Bursa Malaysia Erases Earlier Gains To End Lower
By Nurunnasihah Ahmad Rashid
KUALA LUMPUR, May 28 (Bernama) -- Bursa Malaysia failed to sustain earlier gains recorded for most part of the day to end lower on late selling, amid a mixed performance across regional markets.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 2.68 points to 1,523.48 from Tuesday's close of 1,526.16.
The benchmark index opened 3.98 points higher at 1,530.14, and subsequently hit the day's high of 1,532.90 in early trade before losing its steady momentum to close at its intraday low.
In the broader market, decliners beat gainers 474 to 435, with 499 counters unchanged, 988 untraded and 50 suspended.
Turnover declined to 2.50 billion units worth RM2.03 billion compared with Tuesday's 2.65 billion units worth RM1.85 billion.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said strong selling in Sime Darby Bhd, following its lower-than-expected quarterly earnings, also dragged the FBM KLCI into negative territory by the end of the day.
Sime Darby reported a significantly lower net profit of RM193.0 million in the third quarter ended March 31, 2025 (3Q 2025) cmpared with RM340.0 million in 3Q 2024, mainly due to lower profit from all core divisions. Its revenue also slipped to RM16.31 billion from RM18.84 billion year-on-year.
Thong said equity markets in the region were mostly weaker ahead of Nvidia's earnings release later today, which is expected to offer key insights into the technology sector's trajectory.
