KUALA LUMPUR: Bursa Malaysia ended marginally lower yesterday, as investors largely stayed on the sidelines and adopted a wait-and-see approach amid uncertainties over US monetary policy and geopolitical developments, an analyst says.
At 5pm, the FBM KLCI eased 0.38 of a point to 1,735.37 compared with last Friday’s close of 1,735.75.
The index opened 0.10 of a point higher at 1,735.85 and fluctuated between 1,730.35 and 1,738.97 throughout the day.
However, on the broader market, gainers thumped losers 707 to 447, while 573 counters were unchanged, 1,046 untraded and 21 suspended.
Turnover narrowed to 3.49 billion units valued at RM2.55bil from 3.55 billion units valued at RM3.47bil last Friday.
IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said investors remained cautious despite improving expectations for a less restrictive US monetary policy following weaker US labour market data.
“The modest decline reflected a largely balanced session, with investors weighing softer rate expectations against renewed pressure from higher crude oil prices and ongoing uncertainty surrounding the Strait of Hormuz.
“For now, the FBM KLCI’s marginal decline suggests investors are adopting a wait-and-see approach rather than taking significant risk,” he said.
Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said high crude oil prices and ongoing geopolitical uncertainties could cause near-term market volatility.
“However, resilient domestic economic conditions and continued buying of selected heavyweight stocks should provide support for the benchmark index.
“As such, we expect the FBM KLCI to trade with a mild upward bias within the 1,725 to 1,750 range this week, as investors remain selective and focus on fundamentally strong companies,” he told Bernama.
Among the heavyweights, IHH Healthcare Bhd
gained five sen to RM8.35, both Maybank and CIMB Group Holdings Bhd inched down two sen to RM10.66 and RM7.92, respectively, Public Bank Bhd was one sen lower at RM5.18, and Tenaga Nasional Bhd was flat at RM14.40.
Of the most active stocks, Dagang Nexchange Bhd perked up three sen to 50 sen, Nationgate Holdings Bhd increased 11 sen to RM1.54, HHRG Bhd rose three sen to 15 sen, VS Industry Bhd was one sen higher at 25 sen, while Pegasus Heights Bhd was flat at half a sen.
Malaysian Pacific Industries Bhd led the gainers list, putting on 72 sen to RM47.98, Allianz Malaysia Bhd climbed 68 sen to RM22.20, Skyechip Bhd jumped 23 sen to RM3.25, Kobay Technology Bhd garnered 22 sen to RM2.68, and Petronas Gas Bhd added 20 sen to RM17.36.
As for the top losers, Nestle (M) Bhd erased RM1.80 sen to RM99.60, Kuala Lumpur Kepong Bhd declined RM1.06 sen to RM21.84 and Dutch Lady Milk Industries Bhd slid 20 sen to RM31.80.
