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Malaysian Reserve
3 days ago
- Business
- Malaysian Reserve
Bursa Malaysia ends on weak note amid subdued regional sentiment
KUALA LUMPUR — Bursa Malaysia failed to sustain earlier gains and ended the week on a weaker note, weighed down by continued selling pressure in heavyweight and midcap stocks amid downbeat regional sentiment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 10.63 points, or 0.70 per cent, to 1,508.35 from Thursday's close of 1,518.98. The benchmark index opened 2.24 points higher at 1,521.22, and subsequently hit the day's high of 1,522.06 in early trade before losing its steady momentum to close at its intraday low. On the broader market, decliners outnumbered gainers 616 to 336, while 417 counters were unchanged, 1,025 untraded and 86 suspended. Turnover fell to 3.21 billion units worth RM5.04 billion compared with Thursday's 3.30 billion units worth RM2.22 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said regional markets slipped after US Treasury Secretary Scott Bessent announced that trade talks with China had hit a standstill, reducing confidence in a long-term reduction in tariffs. 'Investors are closely monitoring the situation, as further developments in US-China trade relations could significantly impact global markets. 'We believe with geopolitical tensions and economic data offer little reassurance; Asian markets may remain volatile in the near term,' he told Bernama. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan noted that despite a firmer overnight lead from Wall Street, the FBM KLCI failed to sustain its early gains, weighed down by continued foreign fund outflows and persistent macroeconomic and political uncertainties. 'The index has now erased much of its earlier momentum, sending the one-month return to -2.0 per cent and hovering just above the key psychological threshold of 1,500. 'As of yesterday, foreign investors had extended their net selling streak to 10 consecutive sessions,' he added. He said investor sentiment remains cautious as markets assess recent developments in government leadership and their implications for policy continuity and Malaysia's broader economic trajectory. On the global front, Mohd Sedek said uncertainty surrounding US trade policy continues to cloud market visibility. He said a US appeals court has stayed a prior ruling that had blocked President Donald Trump's use of reciprocal tariffs under the 1977 International Emergency Economic Powers Act, raising fresh questions about the future direction of US trade enforcement. 'While the legal process unfolds, businesses and markets are left navigating a more complex and uncertain global trade landscape,' he added. Among heavyweights, Maybank shed nine sen to RM9.78, Tenaga Nasional slipped eight sen to RM14.00, and IHH Healthcare eased one sen to RM6.90. CIMB was five sen higher at RM6.93 while Public Bank was flat at RM4.31. In active trade, KPJ Healthcare lost 24 sen to RM2.72, Velesto inched down half-a-sen to 18 sen, Tanco fell four sen to RM1, while Eco-Shop and NationGate gained seven sen each to RM1.26 and RM1.51, respectively. On the index board, the FBM Emas Index tumbled 82.53 points to 11,299.80, the FBM ACE Index fell 41.13 points to 4,551.03, but the FBMT 100 Index slid 81.02 points to 11,061.00. The FBM Emas Shariah Index lost 109.57 points to 11,256.26 and the FBM 70 Index sank 130.80 points to 16,201.51. By sector, the Financial Services Index slipped 53.03 points to 17,840.54, the Industrial Products and Services Index edged down 0.37 of-a-point to 152.65, the Energy Index eased 0.14 of-a-point to 708.04, while the Plantation Index dipped 86.10 points to 7,207.85. The Main Market volume improved to 1.88 billion units valued at RM4.82 billion against Thursday's 1.56 billion units valued at RM1.93 billion. Warrants turnover declined to 1.00 billion units worth RM111.49 million from 1.37 billion units worth RM164.04 million previously. The ACE Market volume dwindled to 318.43 million shares worth RM107.68 million from 364.60 million shares worth RM120.88 million yesterday. Consumer products and services counters accounted for 354.31 million shares traded on the Main Market, industrial products and services (280.66 million), construction (110.97 million), technology (208.24 million), SPAC (nil), financial services (213.49 million), property (181.60 million), plantation (36.80 million), REITs (24.92 million), closed/fund (23,900), energy (139.78 million), healthcare (126.76 million), telecommunications and media (100.57 million), transportation and logistics (21.18 million), utilities (90.07 million), and business trusts (11,200). — BERNAMA
Malaysian Reserve
4 days ago
- Business
- Malaysian Reserve
Bursa Malaysia bucks regional trend to end lower, sans fresh local leads
KUALA LUMPUR — Bursa Malaysia bucked the regional trend to settle lower on Thursday, as selling pressure in selected banking heavyweights dampened sentiment, in the absence of fresh domestic catalysts coupled with an unexciting batch of corporate earnings releases, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 4.50 points, or 0.29 per cent, to 1,518.98 from Wednesday's close of 1,523.48. The benchmark index opened 2.12 points higher at 1,525.60 and fluctuated between 1,518.38 and 1,526.94 throughout the day. In the broader market, decliners beat gainers 478 to 466, while 460 counters were unchanged, 982 untraded and 110 suspended. Turnover expanded to 3.30 billion units worth RM2.22 billion compared with Wednesday's 2.50 billion units worth RM2.03 billion. Apex Securities Bhd head of research Kenneth Leong expects that the key index may attempt to find stability above the 1,500 level on the back of potential bargain hunting, going forward. 'Still, we believe that any potential gains could be capped by the resumption of foreign funds outflow. 'Looking ahead, investors will be keeping a close watch on the second reading of the US first-quarter 2025 gross domestic product data to be released later tonight,' he told Bernama. Domestically, Leong said the key focus remains on the ongoing corporate earnings releases. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the release of the latest US Federal Reserve (Fed) minutes proved pivotal. 'The Fed's reaffirmation of its cautious stance—highlighting persistent inflationary pressures and resilient US macroeconomic data—has effectively tempered market expectations for a near-term rate cut.' 'This recalibration in rate outlook translated into upward pressure on global yields, a dynamic to which Malaysia's banking-heavy benchmark index remains acutely sensitive,' he told Bernama. Mohd Sedek said the uplift in regional equities was underpinned by a US federal court's decision to block President Donald Trump's proposed 'Liberation Day' tariffs, which materially improved global risk appetite. However, domestic sentiment remained subdued, weighed down by profit-taking in heavyweight banking counters. Among heavyweights, Maybank gained three sen to RM9.87 and CIMB increased one sen to RM6.88. Public Bank and Tenaga Nasional fell two sen each to RM4.31 and RM14.08 respectively, while IHH Healthcare was flat at RM6.91. As for active stocks, Permaju inched down half-a-sen to one sen and Nationgate dropped 14 sen to RM1.44, while Velesto and NexG added one sen each to 18.5 sen and 37.5 sen respectively. MYEG was flat at 89 sen. On the index board, the FBM Emas Index slid 14.84 points to 11,382.33, the FBM ACE Index rose 42.82 points to 4,592.16, but the FBMT 100 Index fell 19.34 points to 11,142.02. The FBM Emas Shariah Index lost 9.68 points to 11,365.83 while the FBM 70 Index perked up 25.65 points to 16,332.31. By sector, the Financial Services Index slipped 64.33 points to 17,893.57, the Industrial Products and Services Index edged up 0.32 of-a-point to 153.02, the Energy Index put on 1.67 points to 708.18, while the Plantation Index added 1.40 points to 7,293.95. The Main Market volume improved to 1.56 billion units valued at RM1.93 billion against Wednesday's 1.34 billion units valued at RM1.80 billion. Warrants turnover swelled to 1.37 billion units worth RM164.04 million from 815.91 million units worth RM113.60 million previously. The ACE Market volume advanced to 364.60 million shares worth RM120.88 million from 346.43 million shares worth RM119.44 million yesterday. Consumer products and services counters accounted for 354.51 million shares traded on the Main Market, industrial products and services (317.02 million), construction (98.30 million), technology (235.43 million), SPAC (nil), financial services (70.33 million), property (170.33 million), plantation (14.93 million), REITs (88.90 million), closed/fund (2,700), energy (150.03 million), healthcare (36.24 million), telecommunications and media (56.54 million), transportation and logistics (15.65 million), utilities (34.86 million), and business trusts (23,400). — BERNAMA
