Kuala Lumpur: Bursa Malaysia experienced a downturn on Thursday, as the market’s key index, the FTSE Bursa Malaysia KLCI (FBM KLCI), fell by 2.11 points to settle at 1,586.60, down from the previous day’s close of 1,588.71. The dip comes amid heightened caution among investors, driven by external uncertainties.
According to BERNAMA News Agency, the market opened slightly weaker at 1,587.99 and fluctuated between 1,583.45 and 1,588.29 throughout the trading day. The broader market saw 573 gainers against 419 decliners, with 484 counters unchanged, 912 untraded, and 97 suspended. Despite the decline in the KLCI, overall turnover increased to 2.89 billion units valued at RM2.45 billion, compared to 2.81 billion units worth RM2.47 billion on Wednesday.
Mohd Sedek Jantan, head of investment research at UOB Kay Hian Wealth Advisors Sdn Bhd, noted the resilience in the technology and industrial products and services sectors. He attributed this to the strong earnings performance from Nvidia, which exceeded market expectations, bolstering sentiment in the technology and AI sectors. He also pointed out that the significant drop in oil prices might ease operating cost pressures by 2025. Despite the positive signs in certain sectors, Jantan highlighted that the FBM KLCI has yet to cross the 1,590 threshold, suggesting ongoing market consolidation and a sensitivity to negative news.
In the market, heavyweight stocks saw mixed performances. Maybank decreased by four sen to RM10.66, CIMB and Public Bank each fell by six sen to RM8.22 and RM4.49, respectively, while Tenaga Nasional declined by two sen to RM13.56. In contrast, IHH Healthcare saw a slight gain of one sen to RM7.31. Active stocks such as Sapura Energy and My E.G. Services inched up by half-a-sen, while NEXG dropped by two sen, Inari Amertron increased by three sen, and Ingenieur Gudang remained flat.
The index board reflected varied movements, with the FBM Emas Index rising by 35.68 points, the FBMT 100 Index gaining 27.92 points, and the FBM Emas Shariah Index increasing by 63.22 points. The FBM 70 Index surged by 213.57 points, and the FBM ACE Index climbed by 25.08 points. By sector, the Industrial Products and Services Index rose by 2.74 points, the Plantation Index advanced by 39.79 points, and the Energy Index increased by 4.58 points, while the Financial Services Index fell by 61.11 points.
Market volumes also showed divergent trends. The Main Market volume increased to 1.65 billion units worth RM2.21 billion, while warrants turnover expanded to 914.73 million units worth RM127.51 million. The ACE Market volume, however, slipped to 320.50 million units valued at RM107.68 million.
Consumer products and services accounted for 187.65 million shares traded, with other sectors like industrial products and services, construction, technology, financial services, and energy also showing significant activity.