Bursa Malaysia Ends Seven-Day Rally as Profit-Taking Hits Key Sectors
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Bursa Malaysia ended lower after snapping a seven-day winning streak due to profit-taking activities in $Bursa Utilities (0065I.BMS)$, $Bursa Energy (0061I.BMS)$, and $Bursa Technology (0005I.BMS)$ stocks. The market saw a downturn as investors locked in profits following a period of consistent gains.
Key Indices Performance
• $FTSE Bursa Malaysia KLCI Index (.KLSE.GI)$: Dropped by 5.93 points or 0.36%, settling at 1,642.77 from the previous close of 1,648.70. The index hit an intraday high of 1,660.29, the highest level since mid-December 2020, before falling to a low of 1,637.45 during the afternoon session.
• Broader Market: Decliners outpaced advancers with 857 losers against 357 gainers. 433 counters remained unchanged, 833 untraded, and 11 counters suspended.
Trading Volume
• The market turnover increased to 4.19 billion units valued at RM4.55 billion, compared to the previous day’s volume of 3.89 billion units worth RM4.30 billion.
Sectoral and Stock Highlights
• Regional Sentiment: Despite profit-taking on some Asian bourses, many regional markets maintained an upward trajectory supported by foreign buying and strengthening Asian currencies against the US dollar.
• Profit-taking Impact: The decline was primarily driven by $Bursa Utilities (0065I.BMS)$, $Bursa Energy (0061I.BMS)$, and $Bursa Technology (0005I.BMS)$ stocks. While some sectors saw downward pressure, the correction is viewed as an opportunity to accumulate blue-chip stocks at lower levels and build a stronger base for future uptrends.
Significant Stock Movements
• Positive Movers
• $PBBANK (1295.BMS)$: Gained 13.0 sen to RM4.67.
• $TENAGA (5347.BMS)$: Added 10.0 sen to RM14.00.
• $IHH (5225.BMS)$: Increased by 5.0 sen to RM6.32.
• Decliners
• $CIMB (1023.BMS)$: Fell by 12.0 sen to RM7.85.
• $YTL (4677.BMS)$: Plummeted by 34.0 sen to RM3.86.
• $TOPGLOV (7113.BMS)$: Rose 1.0 sen to RM1.00.
• $CEB (5311.BMS)$: Dropped by 2.0 sen to 40 sen.
• $MYEG (0138.BMS)$: Declined by 2.5 sen to 90.5 sen.
Broader Indexes
Key Indices Performance
• $FTSE Bursa Malaysia KLCI Index (.KLSE.GI)$: Dropped by 5.93 points or 0.36%, settling at 1,642.77 from the previous close of 1,648.70. The index hit an intraday high of 1,660.29, the highest level since mid-December 2020, before falling to a low of 1,637.45 during the afternoon session.
• Broader Market: Decliners outpaced advancers with 857 losers against 357 gainers. 433 counters remained unchanged, 833 untraded, and 11 counters suspended.
Trading Volume
• The market turnover increased to 4.19 billion units valued at RM4.55 billion, compared to the previous day’s volume of 3.89 billion units worth RM4.30 billion.
Sectoral and Stock Highlights
• Regional Sentiment: Despite profit-taking on some Asian bourses, many regional markets maintained an upward trajectory supported by foreign buying and strengthening Asian currencies against the US dollar.
• Profit-taking Impact: The decline was primarily driven by $Bursa Utilities (0065I.BMS)$, $Bursa Energy (0061I.BMS)$, and $Bursa Technology (0005I.BMS)$ stocks. While some sectors saw downward pressure, the correction is viewed as an opportunity to accumulate blue-chip stocks at lower levels and build a stronger base for future uptrends.
Significant Stock Movements
• Positive Movers
• $PBBANK (1295.BMS)$: Gained 13.0 sen to RM4.67.
• $TENAGA (5347.BMS)$: Added 10.0 sen to RM14.00.
• $IHH (5225.BMS)$: Increased by 5.0 sen to RM6.32.
• Decliners
• $CIMB (1023.BMS)$: Fell by 12.0 sen to RM7.85.
• $YTL (4677.BMS)$: Plummeted by 34.0 sen to RM3.86.
• $TOPGLOV (7113.BMS)$: Rose 1.0 sen to RM1.00.
• $CEB (5311.BMS)$: Dropped by 2.0 sen to 40 sen.
• $MYEG (0138.BMS)$: Declined by 2.5 sen to 90.5 sen.
Broader Indexes
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.GI)$: Decreased by 50.06 points to 12,429.77.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.GI)$: Fell by 44.57 points to 17,912.64.
• $FTSE Bursa Malaysia Hijrah Shariah Index (.FBMHS.GI)$: Dropped by 55.29 points to 12,359.18.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.GI)$: Declined by 71.56 points to 5,329.59.
Sectoral Performances
• $Bursa Industrial Products & Services (0002I.BMS)$: Dropped by 2.31 points to 181.60.
• $Bursa Energy (0061I.BMS)$: Decreased by 14.90 points to 934.55.
• $Bursa Plantation (0025I.BMS)$: Shed 8.43 points to 7,146.15.
• $Bursa Finance Services (0010I.BMS)$: Increased by 89.61 points to 19,197.15.
Trading Volume by Sector
• Main Market Volume: Expanded to 2.38 billion units worth RM4.24 billion, up from 2.32 billion units valued at RM4.01 billion the previous day.
• Warrants Turnover: Increased to 1.37 billion units valued at RM163.68 million, up from 1.08 billion units worth RM124.32 million.
• ACE Market Volume: Decreased to 437.47 million shares worth RM139.41 million, down from 492.48 million shares valued at RM159.98 million.
Sector Breakdown on Main Market
• $Bursa Consumer Products & Services (0001I.BMS)$: Accounted for 277.71 million shares.
• $Bursa Industrial Products & Services (0002I.BMS)$: Recorded 537.61 million shares traded.
• $Bursa Construction (0003I.BMS)$: Saw 169.80 million shares traded.
• $Bursa Technology (0005I.BMS)$: Traded 251.12 million shares.
• $Bursa Finance Services (0010I.BMS)$: Registered 286.93 million shares traded.
• $Bursa Property (0020I.BMS)$: Counted 269.06 million shares traded.
• $Bursa Energy (0061I.BMS)$: Saw 157.17 million shares traded.
• $Bursa Utilities (0065I.BMS)$: Registered 124.18 million shares traded.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.GI)$: Fell by 44.57 points to 17,912.64.
• $FTSE Bursa Malaysia Hijrah Shariah Index (.FBMHS.GI)$: Dropped by 55.29 points to 12,359.18.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.GI)$: Declined by 71.56 points to 5,329.59.
Sectoral Performances
• $Bursa Industrial Products & Services (0002I.BMS)$: Dropped by 2.31 points to 181.60.
• $Bursa Energy (0061I.BMS)$: Decreased by 14.90 points to 934.55.
• $Bursa Plantation (0025I.BMS)$: Shed 8.43 points to 7,146.15.
• $Bursa Finance Services (0010I.BMS)$: Increased by 89.61 points to 19,197.15.
Trading Volume by Sector
• Main Market Volume: Expanded to 2.38 billion units worth RM4.24 billion, up from 2.32 billion units valued at RM4.01 billion the previous day.
• Warrants Turnover: Increased to 1.37 billion units valued at RM163.68 million, up from 1.08 billion units worth RM124.32 million.
• ACE Market Volume: Decreased to 437.47 million shares worth RM139.41 million, down from 492.48 million shares valued at RM159.98 million.
Sector Breakdown on Main Market
• $Bursa Consumer Products & Services (0001I.BMS)$: Accounted for 277.71 million shares.
• $Bursa Industrial Products & Services (0002I.BMS)$: Recorded 537.61 million shares traded.
• $Bursa Construction (0003I.BMS)$: Saw 169.80 million shares traded.
• $Bursa Technology (0005I.BMS)$: Traded 251.12 million shares.
• $Bursa Finance Services (0010I.BMS)$: Registered 286.93 million shares traded.
• $Bursa Property (0020I.BMS)$: Counted 269.06 million shares traded.
• $Bursa Energy (0061I.BMS)$: Saw 157.17 million shares traded.
• $Bursa Utilities (0065I.BMS)$: Registered 124.18 million shares traded.
Conclusion
Bursa Malaysia saw a decline after a prolonged winning streak, driven by profit-taking in key sectors such as $Bursa Utilities (0065I.BMS)$, $Bursa Energy (0061I.BMS)$, and $Bursa Technology (0005I.BMS)$. Despite the market correction, it offers investors an opportunity to accumulate blue-chip stocks at lower prices. The broader market reflected a healthy adjustment, setting the stage for potential future growth.
Bursa Malaysia saw a decline after a prolonged winning streak, driven by profit-taking in key sectors such as $Bursa Utilities (0065I.BMS)$, $Bursa Energy (0061I.BMS)$, and $Bursa Technology (0005I.BMS)$. Despite the market correction, it offers investors an opportunity to accumulate blue-chip stocks at lower prices. The broader market reflected a healthy adjustment, setting the stage for potential future growth.
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