Bursa Malaysia Closes Lower Amid Broad-Based Selling
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Bursa Malaysia closed lower, with $FTSE Bursa Malaysia KLCI Index (.KLSE.GI)$ declining by 5.42 points, or 0.32%, to end at 1,664.82. The market was weighed down by broad-based selling, driven by local developments and global economic concerns.
Market Sentiment
The session experienced notable selling pressure, with key heavyweight stocks such as $YTL (4677.BMS)$ and $YTLPOWR (6742.BMS)$ seeing declines. Both counters fell due to ongoing concerns related to past tender issues. Additionally, investors remained cautious amid global uncertainties and awaited key economic data, further dampening sentiment.
Key Index Movements
Market Sentiment
The session experienced notable selling pressure, with key heavyweight stocks such as $YTL (4677.BMS)$ and $YTLPOWR (6742.BMS)$ seeing declines. Both counters fell due to ongoing concerns related to past tender issues. Additionally, investors remained cautious amid global uncertainties and awaited key economic data, further dampening sentiment.
Key Index Movements
• $FTSE Bursa Malaysia KLCI Index (.KLSE.GI)$: The index opened higher at 1,670.55, fluctuated between 1,677.46 and 1,663.18, and ultimately closed at 1,664.82.
• Broader Indices
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.GI)$ fell 56.09 points to 12,372.67.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.GI)$ lost 81.43 points, settling at 12,176.95.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.GI)$ dropped 52.89 points to 12,091.46.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.GI)$ dipped 45.41 points to 17,324.88.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.GI)$ fell 66.19 points to 5,091.73.
Sectoral Performance
• $Bursa Energy (0061I.BMS)$ and $Bursa Technology (0005I.BMS)$ Sectors: The Energy Index saw a drop of 9.8 points, reflecting weakness in energy counters, affected by lower global oil prices. Technology stocks also faced selling pressure.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.GI)$ lost 81.43 points, settling at 12,176.95.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.GI)$ dropped 52.89 points to 12,091.46.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.GI)$ dipped 45.41 points to 17,324.88.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.GI)$ fell 66.19 points to 5,091.73.
Sectoral Performance
• $Bursa Energy (0061I.BMS)$ and $Bursa Technology (0005I.BMS)$ Sectors: The Energy Index saw a drop of 9.8 points, reflecting weakness in energy counters, affected by lower global oil prices. Technology stocks also faced selling pressure.
• Heavyweight Stocks:
• $YTLPOWR (6742.BMS)$ dropped 12 sen to RM1.95, and $YTL (4677.BMS)$ fell 13 sen to RM1.52, adding to the index’s downward momentum.
• $MAYBANK (1155.BMS)$ remained flat at RM10.82, while $PBBANK (1295.BMS)$ eased 2 sen to RM4.74.
• Resilient Stocks: Some gains were recorded in defensive sectors like $Bursa Plantation (0025I.BMS)$ and consumer staples, with $KLK (2445.BMS)$ up 12 sen to RM21.40 and $NESTLE (4707.BMS)$ rising 50 sen to RM104.40.
Market Breadth and Turnover
• Market Breadth: Decliners outpaced gainers with 821 losers versus 306 gainers, while 427 counters remained unchanged.
• Turnover: Trading volume increased, with 3.28 billion shares worth RM3.41 billion changing hands, reflecting higher participation despite the overall selling trend.
• $YTLPOWR (6742.BMS)$ dropped 12 sen to RM1.95, and $YTL (4677.BMS)$ fell 13 sen to RM1.52, adding to the index’s downward momentum.
• $MAYBANK (1155.BMS)$ remained flat at RM10.82, while $PBBANK (1295.BMS)$ eased 2 sen to RM4.74.
• Resilient Stocks: Some gains were recorded in defensive sectors like $Bursa Plantation (0025I.BMS)$ and consumer staples, with $KLK (2445.BMS)$ up 12 sen to RM21.40 and $NESTLE (4707.BMS)$ rising 50 sen to RM104.40.
Market Breadth and Turnover
• Market Breadth: Decliners outpaced gainers with 821 losers versus 306 gainers, while 427 counters remained unchanged.
• Turnover: Trading volume increased, with 3.28 billion shares worth RM3.41 billion changing hands, reflecting higher participation despite the overall selling trend.
Conclusion
Bursa Malaysia ended the day in negative territory, with selling pressure in the $Bursa Energy (0061I.BMS)$ and $Bursa Utilities (0065I.BMS)$ sectors dragging down the index. While $Bursa Plantation (0025I.BMS)$ and $Bursa Consumer Products & Services (0001I.BMS)$ counters showed some resilience, the market’s breadth highlighted weak sentiment. Investors are likely to remain cautious in the near term due to ongoing local and global uncertainties.
Bursa Malaysia ended the day in negative territory, with selling pressure in the $Bursa Energy (0061I.BMS)$ and $Bursa Utilities (0065I.BMS)$ sectors dragging down the index. While $Bursa Plantation (0025I.BMS)$ and $Bursa Consumer Products & Services (0001I.BMS)$ counters showed some resilience, the market’s breadth highlighted weak sentiment. Investors are likely to remain cautious in the near term due to ongoing local and global uncertainties.
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