Bursa Malaysia ends lower in sync with regional markets

KUALA LUMPUR: Bursa Malaysia closed lower for the fourth consecutive day today due to cautious sentiments within the regional economy, said an analyst.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.35 points to 1,448.21 from Wednesday’s close of 1,451.56.

The index opened 1.21 points better at 1,452.77 and moved between 1,446.80 and 1,453.97 throughout the day.

The broader market was negative, with decliners leading advancers 549 to 362, while 487 counters were unchanged, 976 untraded, and 11 others suspended.

Turnover declined to 3.25 billion units worth RM2.13 billion from 3.56 billion units worth RM2.51 billion on Wednesday.

SPI Asset Management managing director Stephen Innes said key regional indices were in the red today following the Federal Reserve’s (Fed) hawkish stance.

"Global markets think US yields could push higher. So, as the day wore on, the narrative has shifted back to the most precarious dynamic for global stock markets as US interest rates are making fresh highs, which reflexively impinges on Asia markets like Bursa Malaysia,” he told Bernama.

At 5.10 pm, Japan’s Nikkei 225 fell 1.37 per cent to 32,571.03, South Korea’s Kospi dropped 1.75 per cent to 2,514.97 and Hong Kong’s Hang Seng Index shed 1.29 per cent to 17,655.41.

Singapore’s Straits Times Index slid 1.12 per cent to 3,205.53, and China’s SSE Composite Index contracted 0.77 per cent to 3,084.70.

At the close, Bursa heavyweight counters Maybank added four sen to RM8.90, Public Bank gained two sen to RM4.21 and Petronas Chemicals put on one sen to RM7.31.

Meanwhile, CIMB slid three sen to RM5.59, and TNB weakened six sen to RM10.06.

Of the actives, UEM Sunrise was three sen easier at 88 sen, and Top Glove Corp inched down 2.5 sen to 80.5 sen, while TWL Holdings, KNM Group and EA Holdings were flat at three sen, 12 sen and half-a-sen, respectively.

On the index board, the FBM Emas Index shed 28.40 points to 10,726.64, the FBMT 100 Index slipped 28.54 points to 10,392.01, the FBM 70 Index inched down 58.72 points to 14,287.56 and the FBM Emas Shariah Index fell 45.99 points to 10,972.47.

Meanwhile, the FBM ACE Index improved by 10.01 points to 5,214.14.

Sector-wise, the Plantation Index went down 53.61 points to 6,925.10, and the Energy Index eased 12.24 points to 891.89, while the Industrial Products Services Index was flat at 174.41 and the Financial Services Index climbed 9.58 points to 16,227.97.

The Main Market volume fell to 2.14 billion units worth RM1.90 billion from 2.49 billion units worth RM2.23 billion on Wednesday.

Warrant turnover reduced to 379.14 million units valued at RM48.82 million against 395.36 million units valued at RM53.57 million previously.

The ACE Market volume widened to 690.76 million shares worth RM182.43 million from 662.20 million shares worth RM224.11 million previously.

Consumer products and services counters accounted for 300.90 million shares traded on the Main Market, industrial products and services (410.63 million); construction (153.56 million); technology (135.60 million); SPAC (nil); financial services (66.41 million); property (540.99 million); plantation (39.22 million); REITs (3.78 million), closed/fund (9,000); energy (238.65 million); healthcare (131.50 million); telecommunications and media (28.18 million); transportation and logistics (41.36 million) and utilities (46.13 million). - Bernama

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