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Bursa Malaysia Declines as Investors Await Powell’s Speech
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Bursa Malaysia ended the week lower amid cautious trading as investors awaited Federal Reserve Chairman Jerome Powell’s speech at the Jackson Hole Symposium. $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ declined 5.92 points, or 0.36%, to close at 1,635.74. The benchmark index opened slightly higher at 1,643.33 but fluctuated within a narrow range between 1,633.31 and 1,644.44 throughout the session.
Market Breadth and Turnover
The broader market was dominated by 888 losers against 255 gainers, with 427 counters unchanged and 938 untraded. Turnover declined to 3.53 billion units valued at RM2.80 billion, compared to Thursday’s 3.72 billion units worth RM3.08 billion.
Sector and Stock Performance
• Heavyweight Stocks:
• $IHH (5225.MY)$: Rose by 1.0 sen to RM6.33.
• $TENAGA (5347.MY)$: Dropped 14.0 sen to RM13.72.
• $PBBANK (1295.MY)$: Fell 6.0 sen to RM4.53.
• $MAYBANK (1155.MY)$ and $CIMB (1023.MY)$: Remained unchanged at RM10.44 and RM7.89, respectively.
Market Breadth and Turnover
The broader market was dominated by 888 losers against 255 gainers, with 427 counters unchanged and 938 untraded. Turnover declined to 3.53 billion units valued at RM2.80 billion, compared to Thursday’s 3.72 billion units worth RM3.08 billion.
Sector and Stock Performance
• Heavyweight Stocks:
• $IHH (5225.MY)$: Rose by 1.0 sen to RM6.33.
• $TENAGA (5347.MY)$: Dropped 14.0 sen to RM13.72.
• $PBBANK (1295.MY)$: Fell 6.0 sen to RM4.53.
• $MAYBANK (1155.MY)$ and $CIMB (1023.MY)$: Remained unchanged at RM10.44 and RM7.89, respectively.
• Active Counters:
• $EPB (0317.MY)$: Rose 6.0 sen to 62 sen.
• $ELRIDGE (0318.MY)$: Gained half-a-sen to 40.5 sen.
• $CEB (5311.MY)$: Declined 2.0 sen to 38 sen.
• $MYEG (0138.MY)$: Fell 5.0 sen to 89 sen.
• $EPB (0317.MY)$: Rose 6.0 sen to 62 sen.
• $ELRIDGE (0318.MY)$: Gained half-a-sen to 40.5 sen.
• $CEB (5311.MY)$: Declined 2.0 sen to 38 sen.
• $MYEG (0138.MY)$: Fell 5.0 sen to 89 sen.
• Suspensions and Drops:
• $GENETEC (0104.MY)$ and $NOTION (0083.MY)$ were suspended from intraday short-selling due to breaches of price limits. $GENETEC (0104.MY)$ share price tumbled 16.19% to RM1.19, while $NOTION (0083.MY)$ plunged 16.78% to RM1.14.
Index Performance
• $GENETEC (0104.MY)$ and $NOTION (0083.MY)$ were suspended from intraday short-selling due to breaches of price limits. $GENETEC (0104.MY)$ share price tumbled 16.19% to RM1.19, while $NOTION (0083.MY)$ plunged 16.78% to RM1.14.
Index Performance
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.MY)$: Fell 92.43 points to 12,333.81.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.MY)$: Dropped 78.87 points to 12,013.44.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.MY)$: Declined 113.38 points to 12,262.05.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$: Lost 247.68 points to 17,714.43.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$: Dropped 58.45 points to 5,215.69.
Sectoral Indices
• $Bursa Energy (0061I.MY)$: Gained 0.88 points to 921.53.
• $Bursa Plantation (0025I.MY)$: Increased 0.92 points to 7,200.17.
• $Bursa Finance Services (0010I.MY)$: Fell 86.67 points to 19,020.65.
• $Bursa Industrial Products & Services (0002I.MY)$: Declined 1.78 points to 181.60.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.MY)$: Dropped 78.87 points to 12,013.44.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.MY)$: Declined 113.38 points to 12,262.05.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$: Lost 247.68 points to 17,714.43.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$: Dropped 58.45 points to 5,215.69.
Sectoral Indices
• $Bursa Energy (0061I.MY)$: Gained 0.88 points to 921.53.
• $Bursa Plantation (0025I.MY)$: Increased 0.92 points to 7,200.17.
• $Bursa Finance Services (0010I.MY)$: Fell 86.67 points to 19,020.65.
• $Bursa Industrial Products & Services (0002I.MY)$: Declined 1.78 points to 181.60.
Market Sentiment
Investor caution prevailed as markets anticipated Powell’s speech, with little to no significant buying catalysts in play. Domestically, $Bursa Plantation (0025I.MY)$ sector benefited from strong earnings and compliance readiness for the European Union Deforestation Regulation. However, weak sentiment across other sectors, particularly $Bursa Finance Services (0010I.MY)$, contributed to the market’s overall decline.
Investor caution prevailed as markets anticipated Powell’s speech, with little to no significant buying catalysts in play. Domestically, $Bursa Plantation (0025I.MY)$ sector benefited from strong earnings and compliance readiness for the European Union Deforestation Regulation. However, weak sentiment across other sectors, particularly $Bursa Finance Services (0010I.MY)$, contributed to the market’s overall decline.
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