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Mixed Trading Leaves Bursa Malaysia in the Red for Second Day
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Bursa Malaysia closed in the red for the second consecutive day, with $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ declining by 0.20%, or 3.20 points, to settle at 1,594.29. Weak sentiment continued to plague the market, with $Bursa Utilities (0065I.MY)$ stocks facing notable selling pressure. Total trading volume increased to 3.44 billion shares worth RM3.18 billion, compared to the previous session’s 2.80 billion shares valued at RM2.89 billion. The market breadth remained negative, with 547 decliners outnumbering 515 gainers, while 461 counters were unchanged.
Sectoral Analysis: Utilities and Energy Under Pressure
$Bursa Utilities (0065I.MY)$ sector was the primary laggard, with $TENAGA (5347.MY)$ suffering a steep decline of 32 sen to close at RM13.66, following sustained selling pressure. $Bursa Energy (0061I.MY)$ also faced challenges, with $MISC (3816.MY)$ losing 12 sen to RM7.25. On the positive side, $Bursa Plantation (0025I.MY)$ sector showed resilience, with $SDG (5285.MY)$ rising eight sen to RM4.81, supported by favorable commodity price movements.
Heavyweights and Key Movers
Key gainers among heavyweights included $PBBANK (1295.MY)$, which climbed 1.36% to close at RM4.47, and $RHBBANK (1066.MY)$, which added 13 sen to RM6.76. $NESTLE (4707.MY)$ led the gainers in terms of value, adding 90 sen to close at RM95. The top laggard was $TENAGA (5347.MY)$, followed by $F&N (3689.MY)$, which fell 18 sen to RM27.62. Among active counters, $VELESTO (5243.MY)$ recorded the highest trading volume at 236.51 million shares but ended slightly lower at 16 sen.
$Bursa Utilities (0065I.MY)$ sector was the primary laggard, with $TENAGA (5347.MY)$ suffering a steep decline of 32 sen to close at RM13.66, following sustained selling pressure. $Bursa Energy (0061I.MY)$ also faced challenges, with $MISC (3816.MY)$ losing 12 sen to RM7.25. On the positive side, $Bursa Plantation (0025I.MY)$ sector showed resilience, with $SDG (5285.MY)$ rising eight sen to RM4.81, supported by favorable commodity price movements.
Heavyweights and Key Movers
Key gainers among heavyweights included $PBBANK (1295.MY)$, which climbed 1.36% to close at RM4.47, and $RHBBANK (1066.MY)$, which added 13 sen to RM6.76. $NESTLE (4707.MY)$ led the gainers in terms of value, adding 90 sen to close at RM95. The top laggard was $TENAGA (5347.MY)$, followed by $F&N (3689.MY)$, which fell 18 sen to RM27.62. Among active counters, $VELESTO (5243.MY)$ recorded the highest trading volume at 236.51 million shares but ended slightly lower at 16 sen.
New Entrants and Active Stocks
$SUPREME (0330.MY)$, a new $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$ listing, continued to draw investor interest, rising 5.5 sen to close at 24 sen with 115.66 million shares traded. $VELESTO (5243.MY)$ and $AIMFLEX (0209.MY)$ also saw high trading volumes but recorded minimal price changes, indicating cautious investor sentiment in speculative counters.
Regional and Global Influences
Bursa Malaysia’s performance mirrored weak regional markets as investors reacted to mixed economic data from key economies. In South Korea, industrial production rebounded, but market sentiment remained subdued due to ongoing concerns over global inflationary pressures. Japan’s inflation data, showing acceleration to 2.6%, also weighed on regional indices. The absence of strong cues from U.S. markets, which were closed for Thanksgiving, added to the lackluster trading environment.
Ringgit and Currency Trends
The ringgit was stable against the U.S. dollar $USD/MYR (USDMYR.FX)$, trading at 4.4458, and slightly strengthened against the Singapore dollar $SGD/MYR (SGDMYR.FX)$ at 3.3182. Currency stability helped mitigate some concerns, but broader market sentiment was largely unaffected.
$SUPREME (0330.MY)$, a new $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$ listing, continued to draw investor interest, rising 5.5 sen to close at 24 sen with 115.66 million shares traded. $VELESTO (5243.MY)$ and $AIMFLEX (0209.MY)$ also saw high trading volumes but recorded minimal price changes, indicating cautious investor sentiment in speculative counters.
Regional and Global Influences
Bursa Malaysia’s performance mirrored weak regional markets as investors reacted to mixed economic data from key economies. In South Korea, industrial production rebounded, but market sentiment remained subdued due to ongoing concerns over global inflationary pressures. Japan’s inflation data, showing acceleration to 2.6%, also weighed on regional indices. The absence of strong cues from U.S. markets, which were closed for Thanksgiving, added to the lackluster trading environment.
Ringgit and Currency Trends
The ringgit was stable against the U.S. dollar $USD/MYR (USDMYR.FX)$, trading at 4.4458, and slightly strengthened against the Singapore dollar $SGD/MYR (SGDMYR.FX)$ at 3.3182. Currency stability helped mitigate some concerns, but broader market sentiment was largely unaffected.
Technical Outlook and Investor Sentiment
$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ remains under pressure, with immediate support at the 1,588 level, while resistance is pegged at 1,630. Selling pressure, particularly in $Bursa Utilities (0065I.MY)$ sector, reflects broader market concerns over rising costs and tightening liquidity. Investors are likely to remain cautious, awaiting stronger catalysts or economic policy clarity to guide trading activity.
$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ remains under pressure, with immediate support at the 1,588 level, while resistance is pegged at 1,630. Selling pressure, particularly in $Bursa Utilities (0065I.MY)$ sector, reflects broader market concerns over rising costs and tightening liquidity. Investors are likely to remain cautious, awaiting stronger catalysts or economic policy clarity to guide trading activity.
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Key Takeaways
Bursa Malaysia’s continued downward trend highlights the impact of sectoral weaknesses, particularly in $Bursa Utilities (0065I.MY)$ and $Bursa Energy (0061I.MY)$. While selective buying in $Bursa Finance Services (0010I.MY)$ and $Bursa Plantation (0025I.MY)$ stocks offered some support, the broader market remains under strain from external and internal uncertainties. Investors are advised to monitor global developments and focus on defensive sectors for stability in the near term.
Key Takeaways
Bursa Malaysia’s continued downward trend highlights the impact of sectoral weaknesses, particularly in $Bursa Utilities (0065I.MY)$ and $Bursa Energy (0061I.MY)$. While selective buying in $Bursa Finance Services (0010I.MY)$ and $Bursa Plantation (0025I.MY)$ stocks offered some support, the broader market remains under strain from external and internal uncertainties. Investors are advised to monitor global developments and focus on defensive sectors for stability in the near term.
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