KUALA LUMPUR: Bursa Malaysia closed lower for the fourth consecutive day yesterday due to cautious sentiments within the regional economy, says an analyst.
At 5pm, the 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 RM2.13bil from 3.56 billion units worth RM2.51bil 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.
In terms of regional bourses, Japan’s Nikkei 225 fell 1.37% to 32,571.03, South Korea’s Kospi dropped 1.75% to 2,514.97 and Hong Kong’s Hang Seng Index shed 1.29% to 17,655.41.
Singapore’s Straits Times Index slid 1.12% to 3,205.53 and China’s SSE Composite Index contracted 0.77% to 3,084.70. At the close, Bursa heavyweight counters Malayan Banking Bhd added four sen to RM8.90, Public Bank Bhd gained two sen to RM4.21 and Petronas Chemicals Group Bhd put on one sen to RM7.31.
Of the actives, UEM Sunrise Bhd was three sen easier at 88 sen, and Top Glove Corp Bhd inched down 2.5 sen to 80.5 sen, while TWL Holdings Bhd, KNM Group Bhd and EA Holdings Bhd 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 Syariah 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.
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 RM1.90bil from 2.49 billion units worth RM2.23bil on Wednesday.
Warrant turnover reduced to 379.14 million units valued at RM48.82mil against 395.36 million units valued at RM53.57mil previously.
The ACE Market volume widened to 690.76 million shares worth RM182.43mil from 662.20 million shares worth RM224.11mil previously.