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Bursa Malaysia Slides on Profit-Taking Activity Amid Mixed Regional Markets
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Bursa Malaysia closed lower today, reflecting a broader trend of profit-taking that impacted major sectors, particularly $Bursa Finance Services (0010I.MY)$ and $Bursa Energy (0061I.MY)$ stocks. $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ declined by 0.74%, shedding 12.02 points to settle at 1,609.26 points, a drop reflective of investors booking gains after recent rallies. The mixed performance in regional markets, combined with local economic factors, contributed to cautious sentiment on the exchange.
Key Indices and Market Breadth
$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ fell by 0.74%, closing at 1,609.26. This decline was accompanied by losses in other key indices:
$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ fell by 0.74%, closing at 1,609.26. This decline was accompanied by losses in other key indices:
• $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$ also dropped, declining by 0.36% to close at 5,126.63 points.
Market breadth was negative, with 685 losers outweighing 358 gainers, while 480 counters remained unchanged. This reflected a broad sell-off across the board, further emphasized by the trading volume of 2.68 billion shares, valued at RM2.03 billion.
Market breadth was negative, with 685 losers outweighing 358 gainers, while 480 counters remained unchanged. This reflected a broad sell-off across the board, further emphasized by the trading volume of 2.68 billion shares, valued at RM2.03 billion.
Currency Performance: Ringgit Movement
On the currency front, the ringgit showed minor weakening against major currencies. The $USD/MYR (USDMYR.FX)$ was recorded at 4.4110, reflecting a year-to-date change of 4.14%. Similarly, $SGD/MYR (SGDMYR.FX)$ traded at 3.3145, showing a YTD change of 4.93%. The relative strength of the US dollar and Singapore dollar exerted additional pressure on the local currency, possibly affecting foreign investor sentiment on Bursa Malaysia.
Sectoral Performance
Banking Sector Under Pressure
Banking stocks were notably weaker due to profit-taking activities. Key banking players saw significant declines, including:
On the currency front, the ringgit showed minor weakening against major currencies. The $USD/MYR (USDMYR.FX)$ was recorded at 4.4110, reflecting a year-to-date change of 4.14%. Similarly, $SGD/MYR (SGDMYR.FX)$ traded at 3.3145, showing a YTD change of 4.93%. The relative strength of the US dollar and Singapore dollar exerted additional pressure on the local currency, possibly affecting foreign investor sentiment on Bursa Malaysia.
Sectoral Performance
Banking Sector Under Pressure
Banking stocks were notably weaker due to profit-taking activities. Key banking players saw significant declines, including:
• $HLBANK (5819.MY)$ also declined by 0.43%, closing at RM19.80.
Energy Sector Sees Mixed Results
$Bursa Energy (0061I.MY)$ stocks experienced mixed results, largely impacted by global energy price fluctuations. $PCHEM (5183.MY)$ was among the prominent losers, falling by 1.83% to RM5.40 with a trading volume of 4.97 million shares. In contrast, $VELESTO (5243.MY)$ saw some activity in the active counters list, though it declined by 1.52% to close at RM0.065.
Top Movers and Active Counters
Top Movers
Among the notable movers within $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$:
Energy Sector Sees Mixed Results
$Bursa Energy (0061I.MY)$ stocks experienced mixed results, largely impacted by global energy price fluctuations. $PCHEM (5183.MY)$ was among the prominent losers, falling by 1.83% to RM5.40 with a trading volume of 4.97 million shares. In contrast, $VELESTO (5243.MY)$ saw some activity in the active counters list, though it declined by 1.52% to close at RM0.065.
Top Movers and Active Counters
Top Movers
Among the notable movers within $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$:
• $MAXIS (6012.MY)$ rose by 1.68%, ending the day at RM6.33, buoyed by investor optimism in the telecom sector.
On the flip side, $GENTING (3182.MY)$ saw one of the day’s largest declines, falling 2.24% to RM2.18, largely attributed to profit-taking.
Most Active Counters
The most actively traded stock was $AZAMJAYA (5329.MY)$, which saw substantial trading activity, gaining 0.31 RM to close at RM1.09 on a volume of 68.34 million shares. $MEGAFB (5327.MY)$ also recorded significant volume but declined by 1.52%, closing at RM0.065. Other notable active stocks included $VELESTO (5243.MY)$ and $TALAMT (2259.MY)$, reflecting broad investor interest across sectors.
Gainers and Losers by Value
Top Gainers
Leading the list of top gainers by value were:
On the flip side, $GENTING (3182.MY)$ saw one of the day’s largest declines, falling 2.24% to RM2.18, largely attributed to profit-taking.
Most Active Counters
The most actively traded stock was $AZAMJAYA (5329.MY)$, which saw substantial trading activity, gaining 0.31 RM to close at RM1.09 on a volume of 68.34 million shares. $MEGAFB (5327.MY)$ also recorded significant volume but declined by 1.52%, closing at RM0.065. Other notable active stocks included $VELESTO (5243.MY)$ and $TALAMT (2259.MY)$, reflecting broad investor interest across sectors.
Gainers and Losers by Value
Top Gainers
Leading the list of top gainers by value were:
• $UTDPLT (2089.MY)$, which rose by 1.06% to RM29.16, reflecting a strong performance in the plantation sector.
• $HEIM (3255.MY)$ increased by 1.96% to RM22.96, boosted by robust demand in consumer staples.
Top Losers
On the other end, significant losers included:
Top Losers
On the other end, significant losers included:
• $DLADY (3026.MY)$, which fell by 2.32% to RM30.30, impacted by cautious consumer sentiment.
Summary and Market Outlook
Overall, Bursa Malaysia faced a challenging trading day, with $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ slipping into the red amid widespread profit-taking in key sectors such as $Bursa Finance Services (0010I.MY)$ and $Bursa Energy (0061I.MY)$. The cautious mood was evident as investors took gains off the table following recent market rallies, and mixed regional performances added further uncertainty. Market participants remain vigilant ahead of economic data releases and external developments, particularly in $Bursa Energy (0061I.MY)$ and $Bursa Finance Services (0010I.MY)$ sectors, which are likely to influence short-term movements on Bursa Malaysia.
Looking forward, Bursa Malaysia’s performance may continue to be influenced by profit-taking activity, with sectors like $Bursa Finance Services (0010I.MY)$, $Bursa Energy (0061I.MY)$, and $Bursa Consumer Products & Services (0001I.MY)$ being particularly sensitive to investor sentiment.
Overall, Bursa Malaysia faced a challenging trading day, with $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ slipping into the red amid widespread profit-taking in key sectors such as $Bursa Finance Services (0010I.MY)$ and $Bursa Energy (0061I.MY)$. The cautious mood was evident as investors took gains off the table following recent market rallies, and mixed regional performances added further uncertainty. Market participants remain vigilant ahead of economic data releases and external developments, particularly in $Bursa Energy (0061I.MY)$ and $Bursa Finance Services (0010I.MY)$ sectors, which are likely to influence short-term movements on Bursa Malaysia.
Looking forward, Bursa Malaysia’s performance may continue to be influenced by profit-taking activity, with sectors like $Bursa Finance Services (0010I.MY)$, $Bursa Energy (0061I.MY)$, and $Bursa Consumer Products & Services (0001I.MY)$ being particularly sensitive to investor sentiment.
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