Bursa Malaysia Recoups Earlier Losses, Turns Marginally Higher At Midday
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Bursa Malaysia managed a modest recovery by midday after a turbulent morning, as strategic buying in heavyweights offset the earlier losses. The market was marked by choppy trading, with the $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ rising by 0.16 points, or 0.01%, to 1,592.03 from the previous close of 1,591.87.
Market Movements and Key Statistics
Market Movements and Key Statistics
The $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ opened 5.91 points lower at 1,585.96 and fluctuated between 1,579.69 and 1,592.89 throughout the morning session. By the lunch break, the index managed to claw back to positive territory, driven by selective buying in key sectors.
Despite this, the broader market saw decliners outnumbering gainers 575 to 395, with 445 counters remaining unchanged. The total turnover amounted to 2.66 billion units valued at RM1.52 billion, indicating a cautious yet active trading environment.
Sector Performances and Active Stocks
Heavyweights:
• $MAYBANK (1155.MY)$ and $TENAGA (5347.MY)$ remained unchanged at RM10.14 and RM13.94, respectively.
• $PBBANK (1295.MY)$ and $PCHEM (5183.MY)$ each shed one sen to RM4.23 and RM5.14, respectively.
• $CDB (6947.MY)$ added three sen to RM3.68.
Active Stocks:
• $CEB (5311.MY)$: Gained 5.5 sen to 49 sen.
• $SEALINK (5145.MY)$: Rose one sen to 37 sen.
• $SG (5157.MY)$ and $HUBLINE (7013.MY)$: Both remained flat at two sen and 37 sen, respectively.
• $EKOVEST (8877.MY)$: Fell 1.5 sen to 39.5 sen.
Indices and Market Sentiment
The broader indices reflected a mixed market sentiment:
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.MY)$: Slightly depreciated by 7.10 points to 12,094.60.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.MY)$: Dropped 5.23 points to 11,745.57.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$: Narrowed by 5.89 points to 5,211.58.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$: Slid by 31.61 points to 17,516.75.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.MY)$: Firmed by 0.14 points to 12,214.85.
Sector-wise Performance:
• $Bursa Energy (0061I.MY)$: Improved by 1.41 points to 913.00.
• $Bursa Industrial Products & Services (0002I.MY)$: Lifted by 0.82 points to 178.76.
• $Bursa Construction (0003I.MY)$: Inched down by 3.97 points to 276.10.
• $Bursa Utilities (0065I.MY)$: Decreased by 2.27 points to 1,755.87.
• $Bursa Finance Services (0010I.MY)$: Declined by 26.25 points to 18,034.56.
• $Bursa Plantation (0025I.MY)$: Eased by 12.46 points to 7,037.05.
The Bigger Picture
Despite this, the broader market saw decliners outnumbering gainers 575 to 395, with 445 counters remaining unchanged. The total turnover amounted to 2.66 billion units valued at RM1.52 billion, indicating a cautious yet active trading environment.
Sector Performances and Active Stocks
Heavyweights:
• $MAYBANK (1155.MY)$ and $TENAGA (5347.MY)$ remained unchanged at RM10.14 and RM13.94, respectively.
• $PBBANK (1295.MY)$ and $PCHEM (5183.MY)$ each shed one sen to RM4.23 and RM5.14, respectively.
• $CDB (6947.MY)$ added three sen to RM3.68.
Active Stocks:
• $CEB (5311.MY)$: Gained 5.5 sen to 49 sen.
• $SEALINK (5145.MY)$: Rose one sen to 37 sen.
• $SG (5157.MY)$ and $HUBLINE (7013.MY)$: Both remained flat at two sen and 37 sen, respectively.
• $EKOVEST (8877.MY)$: Fell 1.5 sen to 39.5 sen.
Indices and Market Sentiment
The broader indices reflected a mixed market sentiment:
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.MY)$: Slightly depreciated by 7.10 points to 12,094.60.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.MY)$: Dropped 5.23 points to 11,745.57.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$: Narrowed by 5.89 points to 5,211.58.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$: Slid by 31.61 points to 17,516.75.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.MY)$: Firmed by 0.14 points to 12,214.85.
Sector-wise Performance:
• $Bursa Energy (0061I.MY)$: Improved by 1.41 points to 913.00.
• $Bursa Industrial Products & Services (0002I.MY)$: Lifted by 0.82 points to 178.76.
• $Bursa Construction (0003I.MY)$: Inched down by 3.97 points to 276.10.
• $Bursa Utilities (0065I.MY)$: Decreased by 2.27 points to 1,755.87.
• $Bursa Finance Services (0010I.MY)$: Declined by 26.25 points to 18,034.56.
• $Bursa Plantation (0025I.MY)$: Eased by 12.46 points to 7,037.05.
The Bigger Picture
The market’s resilience was underscored by strategic buying in sectors perceived as oversold, particularly in construction, property, and technology, which benefited from the data center theme. Additionally, the finance sector’s attractive dividend yields continued to attract investors, bolstered by a stronger ringgit environment favoring the consumer sector.
Moving forward, while concerns over the yen reverse carry trade persist, the less hawkish stance from the Bank of Japan is expected to build buying interest. The market is poised for an accumulation phase if selling pressures resurface, presenting a tactical opportunity for investors to capitalize on.
Moving forward, while concerns over the yen reverse carry trade persist, the less hawkish stance from the Bank of Japan is expected to build buying interest. The market is poised for an accumulation phase if selling pressures resurface, presenting a tactical opportunity for investors to capitalize on.
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