KUALA LUMPUR: Bursa Malaysia remained under pressure at midday as broad-based selling dragged all indices into negative territory.
At lunch break, the FBM KLCI fell 8.39 points, or 0.48%, to 1,749.59, rebounding slightly from its intramorning low of 1,747.68, as all indices on Bursa Malaysia remained in negative territory.
Market breadth turned negative, with losers outnumbering gainers 634 to 326, while 491 counters were unchanged. Turnover stood at 1.23 billion shares valued at RM1.15bil.
Among the decliners, Nestle plunged RM2.70 to RM109.70, Kuala Lumpur Kepong slipped 34 sen to RM19.66, United Plantations fell 32 sen to RM30.00 and PETRONAS Dagangan shed 28 sen to RM20.70.
On the upside, F&N gained 56 sen to RM33.56, VSTECS rose 22 sen to RM4.49, Sunway Construction added 18 sen to RM6.49 and UMS Integration climbed 15 sen to RM4.15.
Apex Securities said global sentiment turned cautious after President Donald Trump warned trading partners against reneging on negotiated trade deals and signalled potential new licence fees following the US Supreme Court’s rejection of his emergency tariff authority.
The prospect of alternative tariff measures under other trade laws has heightened policy uncertainty and unsettled global markets.
“Against this backdrop, investors are likely to remain cautious in the near term, with regional markets susceptible to shifting US trade policies.
“For Malaysia, the FBM KLCI is expected to trade range-bound, with investors likely to focus on assessing upcoming corporate earnings, while persistent external uncertainties may cap near-term upside,” Apex said.
The brokerage said it favours the consumer sector, supported by a stronger ringgit that should ease imported cost pressures, alongside a tourism rebound under Visit Malaysia 2026 which is expected to boost domestic spending.
Meanwhile, banking and REITs remain attractive given their stable earnings visibility and attractive dividend yields.
Meanwhile, TA Securities said the US Supreme Court’s decision to strike down Trump’s sweeping tariffs could lend near-term support to export-oriented stocks, but the broader market undertone remains cautious amid a lack of clear direction locally.
“Immediate resistance is seen at the 138.2% Fibonacci projection (1,804), followed by the 150% FP (1,841) and the stronger 161.8% FP (1,879).
