Kuala Lumpur: Bursa Malaysia concluded the trading session on a negative note as the FBM KLCI dipped by 0.5%, primarily due to selling pressure on selected heavyweight stocks like Press Metal, IHH Healthcare, and Tenaga Nasional.
According to BERNAMA News Agency, Press Metal saw a reduction of 16 sen to RM4.87, IHH Healthcare fell by 14 sen to RM6.75, and Tenaga Nasional dropped 18 sen to RM13.58. These declines contributed to a 6.12-point decrease in the benchmark index. At the close of the trading day, the FBM KLCI had decreased by 7.61 points, reaching 1,518.91, compared to the previous day’s close of 1,526.52.
The day’s trading activities saw the benchmark index opening 9.22 points lower at 1,517.30, with movements ranging between 1,512.32 and 1,524.41. The broader market witnessed 548 losers compared to 357 gainers, while 448 counters remained unchanged, 994 were untraded, and eight were suspended. Turnover increased to 2.51 billion units valued at RM1.81 billion, up from the previous day’s 2.37 billion units worth RM2.03 billion.
Rakuten Trade Sdn Bhd’s equity research vice-president, Thong Pak Leng, highlighted the impact of a 24-per cent US reciprocal tariff on Malaysia, adding pressure to its export-reliant economy, especially in the electronics and manufacturing sectors. Thong noted that while the FBM KLCI remains supported, investor sentiment has shifted towards caution due to foreign outflows. He pointed out that other Asia-Pacific countries facing higher tariffs, such as Cambodia and Vietnam, are experiencing more significant shocks. Thong also mentioned that bargain-hunting could emerge soon, particularly in countries like Malaysia, which have lower tariffs and robust economic fundamentals. He anticipated the benchmark index to trend between 1,510-1,530 going into the weekend.
In sector-specific developments, the Technology Index eased by 0.80 of a point to 48.52. Malaysia Semiconductor Industry Association president Datuk Wong Siew Hai warned that Malaysia’s semiconductor firms, despite exemption from the latest US tariffs, are still facing challenges.
On the local stock front, Public Bank saw a slight increase of one sen to RM4.40, MISC rose by 17 sen to RM7.31, while other heavyweights like Maybank, CIMB, and Petronas Gas experienced declines. Active stocks included Top Glove, which advanced by four sen, and Supermax, which increased by six sen.
The index board reflected declines across various indices, including the FBM Emas Index, FBMT 100 Index, and others. Sector-wise, the Financial Services Index, Industrial Products and Services Index, Energy Index, and Plantation Index all recorded decreases.
The Main Market’s volume rose to 1.40 billion units worth RM1.61 billion, while the ACE Market saw an improvement in volume to 275.91 million units valued at RM105.92 million. Warrants turnover, however, decreased to 836.86 million units worth RM94.28 million.
Overall, the consumer products and services sector accounted for 181.59 million shares traded on the Main Market, with industrial products and services, construction, technology, and others following suit in terms of trading volume.