Kuala Lumpur: Bursa Malaysia ended at an intraday low today, weighed down by persistent selling in selected heavyweights, led by utilities, telecommunications, media, and financial services sectors. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 10.81 points, or 0.70 percent, to 1,536.46 from last Friday’s close of 1,547.27.
According to BERNAMA News Agency, Tenaga Nasional slid 20 sen to RM13.54, Maxis slid 10 sen to RM3.27, and Maybank dipped six sen to RM10.58, dragging the composite index down by a combined 4.53 points. The FBM KLCI opened 1.69 points easier at 1,545.58 and moved between 1,536.46 and 1,550.0 throughout the day.
On the broader market, decliners outpaced advancers 730 to 253, with 425 counters unchanged, 974 untraded, and 15 suspended. Turnover advanced to 3.10 billion units worth RM2.40 billion from 2.45 billion units worth RM2.43 billion last Friday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng stated that the key index continued to trend lower amid cautious sentiment and a lack of fresh catalysts. Key regional indices were also mostly in negative territory as investor sentiment remained unsettled, driven by the United States’s frequent trade policy changes, fueling uncertainty. Additionally, the refusal to rule out a US recession this year added to market jitters, he told Bernama.
Market participants are closely monitoring developments in Beijing, as China’s leadership wraps up its annual legislative session, outlining a five percent growth target for 2025, emphasizing domestic demand, and introducing a rare fiscal boost. Back home, the recent sell-off caused the benchmark index’s price earnings ratio to fall to 13.5 times, presenting an opportunity to accumulate blue-chip stocks or those with strong fundamentals to safeguard investors’ portfolios. Bargain hunting is expected to emerge, and the FBM KLCI is anticipated to trend within the range of 1,530-1,550 for the week.
Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd’s head of investment research Mohd Sedek Jantan said the FBM KLCI closed lower as risk-off sentiment persisted following a weaker-than-expected US non-farm payrolls (NFP) report. Concerns over tariffs remain unresolved, and market volatility intensified amid renewed anxieties over China’s economic outlook. The latest data showed China’s Consumer Price Index (CPI) slipping back into deflation, declining 0.7 percent year-on-year in February compared to a 0.5 percent gain in the previous month, exacerbating global market uncertainty.
Compounding these pressures, investor sentiment was further unsettled by the unpredictability of US trade policies and President Donald Trump’s reluctance to rule out a US recession this year, amplifying uncertainty across financial markets. Among other heavyweights, Hong Leong Bank slumped 28 sen to RM20.48, SD Guthrie lost eight sen to RM4.80, Axiata shed six sen at RM1.82, while IHH Healthcare added four sen to RM7.30, and YTL Corporation rose two sen to RM1.83.
As for the actives, MyEG Services inched up half-a-sen to 90.5 sen, NationGate gave up 19 sen to RM1.14, NexG trimmed one sen to 26 sen, SNS Network Technology shaved two sen to 38.5 sen, while Sapura Energy was flat at 3.5 sen. On the index board, the FBM Emas Index declined by 107.70 points to 11,413.10, the FBMT 100 Index went down 97.72 points to 11,197.83, the FBM Emas Shariah Index dropped 151.72 points to 11,028.23, the FBM ACE Index shrank 65.45 points to 4,522.34, and the FBM 70 Index tumbled 216.48 points to 16,125.99.
Sector-wise, the Financial Services Index slumped 98.23 points to 18,968.45, the Industrial Products and Services Index edged down 1.58 points to 153.65, the Energy Index lost 7.01 points to 708.03, and the Plantation Index was 61.37 points lower at 7,418.71. The Main Market volume improved to 1.67 billion units worth RM2.14 billion from 1.37 billion units worth RM2.22 billion last Friday. Warrants turnover expanded to 1.07 billion units worth RM143.69 million against 747.40 million units worth RM100.78 million previously. The ACE Market volume swelled to 356.70 million units valued at RM121.99 million versus 326.62 million units valued at RM116.21 million on Friday. Consumer products and services counters accounted for 230.55 million shares traded on the Main Market, industrial products and services (312.56 million), construction (87.88 million), technology (325.37 million), SPAC (nil), financial services (98.10 million), property (125.89 million), plantation (28.82 million), REITs (11.36 million), closed/fu
nd (9,500), energy (248.71 million), healthcare (89.48 million), telecommunications and media (39.04 million), transportation and logistics (26.26 million), utilities (46.35 million), and business trusts (393,400).