KUALA LUMPUR: Bursa Malaysia ended lower on Wednesday as profit-taking following the previous session’s gains and losses in technology and semiconductor stocks weighed on the market amid a slew of corporate earnings.
The benchmark FBM KLCI fell 2.04 points, or 0.12%, to 1,731.32 after trading within a 7.49-point range, between an intraday high of 1,733.44 and a low of 1,725.95.
Market breadth was negative, with losers outnumbering gainers 700 to 478, reflecting persistent selling pressure across the broader market. About 3.31 billion shares, valued at RM2.93bil, changed hands.
Dealers said profit-taking emerged following the previous session’s gains, while losses in technology and semiconductor counters added to selling pressure.
They said sentiment was also dampened by weakness across key regional markets, although ongoing corporate earnings releases could continue to drive stock-specific trading.
“Investors are likely to remain selective, with attention focused on corporate earnings and fresh catalysts,” a dealer said.
Technology and semiconductor-linked stocks were among the top losers on Bursa Malaysia, with Malaysian Pacific Industries
plunging RM1.92 to RM46.10.
MI Technovation fell 20 sen to RM6.25, Unisem lost 16 sen to RM4.24, Pentamaster shed 15 sen to RM5.30 and Frontken declined 11 sen to RM5.08.
Other decliners included United Plantations, which fell 60 sen to RM32, Heineken, down 22 sen to RM16.30, and Johor Plantations, which shed 17 sen to RM1.88.
Among the gainers, Batu Kawan rose 44 sen to RM21, Dutch Lady added 44 sen to RM31.94, Nestlé gained 30 sen to RM104 and Ayer climbed 25 sen to RM7.50.
On the forex front, the ringgit eased 0.07% against the US dollar to 4.0625 and slipped 0.14% against the Singapore dollar to 3.1820.
Elsewhere in the region, Asian shares were mostly lower, with Japan’s Nikkei 225 falling 3.16% and South Korea’s Kospi tumbling 5.08%. China’s CSI 300 lost 2.9%, while Hong Kong’s Hang Seng Index bucked the trend to gain 0.09%.
