Bursa Malaysia Dips at Midday Amid US Economic Data Concerns
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Bursa Malaysia mirrored the cautious sentiment in regional markets ahead of key US economic data releases. By lunchtime, the $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ had dropped 44.38 points, or 2.75%, to 1,566.67 from Friday’s close of 1,611.05.
Opening Bell and Market Movements:
• $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$: Opened 17.69 points lower at 1,593.36, its highest point today, before dipping to as low as 1,563.18 during the morning session.
• Market Breadth: Decliners outnumbered advancers significantly, with 1,526 losers against 61 gainers, and 161 counters remaining unchanged.
• Turnover: Reached 4.97 billion units valued at RM3.58 billion.
Sector and Stock Highlights
Heavyweights:
• Losers:
• $MAYBANK (1155.MY)$: Fell 18 sen to RM10.06.
• $PBBANK (1295.MY)$: Dropped 7 sen to RM4.21.
• $TENAGA (5347.MY)$: Lost 60 sen to RM13.36.
• $CIMB (1023.MY)$: Trimmed by 26 sen to RM7.14.
• $IHH (5225.MY)$: Down 11 sen to RM6.14.
Actives:
• $PHB (4464.MY)$: Unchanged at 1 sen.
• $VELESTO (5243.MY)$: Fell 1 sen to 20.5 sen.
• $MYEG (0138.MY)$: Erased 8.5 sen to 88.5 sen.
• $HUBLINE (7013.MY)$: Shed half-a-sen to 9.5 sen.
• $JAKS (4723.MY)$: Lost 1.5 sen to 15 sen.
Index and Sector Performance
Indices:
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.MY)$: Declined 408.44 points to 11,895.06.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.MY)$: Dropped 377.01 points to 11,542.94.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.MY)$: Reduced 461.65 points to 11,986.50.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$: Slid 745.65 points to 17,157.15.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$: Dipped 298.22 points to 5,172.19.
Sectors:
• $Bursa Plantation (0025I.MY)$: Tickled down 180.37 points to 6,963.24.
• $Bursa Industrial Products & Services (0002I.MY)$: Eased 8.68 points to 176.82.
• $Bursa Energy (0061I.MY)$: Dropped 43.28 points to 885.87.
• $Bursa Technology (0005I.MY)$: Slipped 4.40 points to 66.91.
• $Bursa Finance Services (0010I.MY)$: Fell 408.93 points to 17,822.65.
Market Sentiment and Analysis
The market sentiment was heavily influenced by anticipated US economic data, specifically the ISM Non-Manufacturing PMI and unemployment claims, which could signal future economic trends and potential interest rate decisions.
• $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$: Opened 17.69 points lower at 1,593.36, its highest point today, before dipping to as low as 1,563.18 during the morning session.
• Market Breadth: Decliners outnumbered advancers significantly, with 1,526 losers against 61 gainers, and 161 counters remaining unchanged.
• Turnover: Reached 4.97 billion units valued at RM3.58 billion.
Sector and Stock Highlights
Heavyweights:
• Losers:
• $MAYBANK (1155.MY)$: Fell 18 sen to RM10.06.
• $PBBANK (1295.MY)$: Dropped 7 sen to RM4.21.
• $TENAGA (5347.MY)$: Lost 60 sen to RM13.36.
• $CIMB (1023.MY)$: Trimmed by 26 sen to RM7.14.
• $IHH (5225.MY)$: Down 11 sen to RM6.14.
Actives:
• $PHB (4464.MY)$: Unchanged at 1 sen.
• $VELESTO (5243.MY)$: Fell 1 sen to 20.5 sen.
• $MYEG (0138.MY)$: Erased 8.5 sen to 88.5 sen.
• $HUBLINE (7013.MY)$: Shed half-a-sen to 9.5 sen.
• $JAKS (4723.MY)$: Lost 1.5 sen to 15 sen.
Index and Sector Performance
Indices:
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.MY)$: Declined 408.44 points to 11,895.06.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.MY)$: Dropped 377.01 points to 11,542.94.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.MY)$: Reduced 461.65 points to 11,986.50.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$: Slid 745.65 points to 17,157.15.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$: Dipped 298.22 points to 5,172.19.
Sectors:
• $Bursa Plantation (0025I.MY)$: Tickled down 180.37 points to 6,963.24.
• $Bursa Industrial Products & Services (0002I.MY)$: Eased 8.68 points to 176.82.
• $Bursa Energy (0061I.MY)$: Dropped 43.28 points to 885.87.
• $Bursa Technology (0005I.MY)$: Slipped 4.40 points to 66.91.
• $Bursa Finance Services (0010I.MY)$: Fell 408.93 points to 17,822.65.
Market Sentiment and Analysis
The market sentiment was heavily influenced by anticipated US economic data, specifically the ISM Non-Manufacturing PMI and unemployment claims, which could signal future economic trends and potential interest rate decisions.
A local brokerage noted potential spillover effects from the US market’s weak performance, impacting the technology sector. However, sectors like construction, building materials, property, and utilities might be in an accumulation phase due to infrastructure and data center catalysts. Gold-related stocks could also see interest amid expectations of an interest rate downcycle.
Insights and Outlook
Despite the midday dip, strategic opportunities might emerge in the construction, property, and utilities sectors as the earnings season approaches. Investors should remain vigilant and watch for potential buying opportunities in anticipation of favorable economic data.
Insights and Outlook
Despite the midday dip, strategic opportunities might emerge in the construction, property, and utilities sectors as the earnings season approaches. Investors should remain vigilant and watch for potential buying opportunities in anticipation of favorable economic data.
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