Kuala Lumpur: Bursa Malaysia failed to sustain the buying momentum seen most of the day to end at an intraday low on late selling of selected utilities and plantation heavyweight counters, amid a mixed performance in regional peers. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 9.13 points, or 0.57 per cent, to 1,576.46 from Monday’s close of 1,585.59. The benchmark index, which opened 7.38 points higher at 1,592.97, moved between 1,576.46 and 1,599.43 during the trading session.
According to BERNAMA News Agency, the broader market was negative with decliners leading gainers 588 to 400, while 529 counters were unchanged, 842 untraded, and 17 suspended. Turnover increased to 3.45 billion units valued at RM2.72 billion against Monday’s 2.85 billion units valued at RM2.54 billion. UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan noted that the index opened higher, indicating initial strength and a potential recovery from declines observed over the past week. However, this momentum waned as the session progressed, reflecting ongoing caution among investors.
Regionally, Japan’s Nikkei 225 fell 1.83 per cent to 38,474.30 and Singapore’s Straits Times Index eased 0.08 per cent to 3,788.77, while Hong Kong’s Hang Seng Index soared 1.83 per cent to 19,219.78, South Korea’s Kospi climbed 0.31 per cent to 2,497.40, and China’s SSE Composite Index surged 2.54 per cent to 3,240.94. Mohd Sedek highlighted the potential long-term benefits of the Johor-Singapore Special Economic Zone, formalised last week, which is expected to drive regional economic growth and attract cross-border investments. Despite recent market volatility overshadowing its immediate impact, the initiative’s promise remains as market conditions stabilize.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng commented on investors awaiting clarity on potential new tariffs on Chinese exports following the upcoming inauguration of US President-elect Donald Trump. Domestically, sentiment remains cautious, with the benchmark index nearing oversold territory, encouraging accumulation despite external factors and elevated global market volatility. Thong expects the FBM KLCI to trend within the 1,570-1,600 range for the rest of the week.
Among heavyweights, Maybank jumped 12 sen to RM10.20, while CIMB shed 13 sen to RM7.97, Public Bank fell five sen to RM4.40, Tenaga dropped eight sen to RM13.82, and IHH slipped two sen to RM7.08. As for active stocks, TWL Holdings, Velocity Capital, and EA Holdings remained flat, while MYEG slid one sen to 93.5 sen and Harvest Miracle added one sen to 19.5 sen.
On the broader index, the FBM Emas Index decreased 62.39 points to 12,116.97, the FBM Emas Shariah Index fell 57.33 points to 12,053.53, and the FBMT 100 Index declined 63.01 points to 11,801.64. The FBM 70 Index dropped 77.53 points to 18,230.90 while the FBM ACE Index increased 14.55 points to 5,260.58. By sector, the Energy Index shed 2.77 points to 833.02, the Financial Services Index tumbled 70.33 points to 18,762.82, the Industrial Products and Services Index went down 1.40 points to 167.06, and the Plantation Index sank 43.59 points to 7,399.36.
The Main Market volume improved to 1.59 billion units worth RM2.43 billion against Monday’s 1.51 billion units worth RM2.29 billion. Warrants turnover expanded to 1.38 billion units valued at RM139.27 million versus 856.91 million units valued at RM82.83 million previously. The ACE Market volume narrowed to 473.57 million units worth RM154.59 million from 484.47 million units worth RM167.11 million yesterday. Consumer products and services counters accounted for 209.06 million shares traded on the Main Market, with significant activity also in industrial products, technology, and financial services sectors, among others.