Kuala Lumpur: Bursa Malaysia remained lower at midday as profit-taking activities persisted, particularly impacting plantation and energy stocks, according to analysts.
According to BERNAMA News Agency, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 5.88 points, or 0.38 per cent, reaching 1,514.83 compared to Monday’s close of 1,519.99. The benchmark index began the day 1.17 points lower at 1,518.82 and fluctuated between 1,510.92 and 1,520.89 during the morning session.
Market sentiment was negative, with 462 stocks declining against 284 advancing, while 455 remained unchanged. A total of 1,215 counters were untraded, and 22 were suspended. The market turnover was reported at 2.01 billion shares, valued at RM947.77 million.
Hong Leong Investment Bank Bhd (HLIB) noted that domestic market sentiment is likely to stay cautious, influenced by uncertainty surrounding a pending US-Malaysia tariff agreement. Other factors include historically weak market performance in June and anticipated policy changes in the second half of 2025, such as fuel subsidy rationalisation and the expansion of the Sales and Service Tax (SST) on July 1, both of which could impact consumer spending and corporate earnings.
Despite these challenges, potential downsides might be mitigated by the strengthening ringgit against the US dollar, which has appreciated by 5.3 per cent year-to-date. This could encourage foreign investment and lower import costs. Additionally, policy-driven catalysts like the National Energy Transition Roadmap (NETR), the Johor-Singapore Special Economic Zone (JS-SEZ), and the New Industrial Master Plan 2030 (NIMP 2030) may offer support to the local market.
Key support levels for the FBM KLCI are predicted between 1,476-1,500, while resistance is expected in the 1,524-1,556 range, according to HLIB.
Among the major stocks, SD Guthrie decreased by 9.0 sen to RM4.61, Petronas Chemicals Group and IOI Corp both reduced by 5.0 sen to RM3.35 and RM3.67, respectively. Hong Leong Financial Group dropped 18 sen to RM15.86, and Telekom fell by 7.0 sen to RM6.59.
In the most active stocks category, Top Glove declined by 3.5 sen to 72 sen, while MYEG and Tanco Holdings each added 1.0 sen to 94 sen and 96.5 sen, respectively. Velesto Energy eased by half-a-sen to 18.5 sen, and Jiankun International remained unchanged at 3.0 sen.
On the index board, the FBM Emas Index fell by 37.89 points to 11,322.90, and the FBMT 100 Index decreased by 36.35 points to 11,102.00. The FBM Emas Shariah Index dropped by 31.41 points to 11,342.25, the FBM ACE Index weakened by 23.48 points to 4,448.33, and the FBM 70 Index declined by 26.57 points to 16,256.89.
Sector-wise, the Plantation Index was trimmed by 68.34 points to 7,281.93, the Energy Index sank by 14.40 points to 737.76, the Financial Services Index dropped by 86.85 points to 17,414.15, and the Industrial Products and Services Index decreased by 0.62 points to 150.51.