Petronas Chemicals Lifts KLCI at Midday as Regional Markets Struggle
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At midday, $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ posted a slight gain of 0.36 points, reaching 1,598.54, supported by buying interest in key heavyweights despite weak overall market sentiment. $PCHEM (5183.MY)$ played a significant role, adding 26 sen to RM4.83 and contributing to the index’s resilience. Gains in $MAYBANK (1155.MY)$ and $SUNWAY (5211.MY)$ also helped offset losses in other blue-chip counters, including $TENAGA (5347.MY)$ and $NESTLE (4707.MY)$.
Mixed Broader Market Reflects Cautious Sentiment
The broader market remained subdued, with 591 decliners outpacing 304 gainers, and 440 counters unchanged. Total trading volume stood at 2.22 billion shares worth RM1.14 billion, reflecting cautious investor participation. Lower liners and active counters such as $MYEG (0138.MY)$ and $ZENTECH (0094.MY)$ showed minor gains, while others like $MQTECH (0070.MY)$ remained flat.
The broader market remained subdued, with 591 decliners outpacing 304 gainers, and 440 counters unchanged. Total trading volume stood at 2.22 billion shares worth RM1.14 billion, reflecting cautious investor participation. Lower liners and active counters such as $MYEG (0138.MY)$ and $ZENTECH (0094.MY)$ showed minor gains, while others like $MQTECH (0070.MY)$ remained flat.
Regional Markets Weigh on Bursa Performance
Regional market trends added pressure to Bursa Malaysia’s broader performance. Japan’s $Nikkei 225 (.N225.JP)$ led the declines in Asia, falling by 0.91%, while China’s $SSE Composite Index (000001.SH)$ and Hong Kong’s $Hang Seng Index (800000.HK)$ slipped marginally by 0.1% and 0.13%, respectively. Singapore’s $FTSE Singapore Straits Time Index (.STI.SG)$, however, managed a small gain of 0.12%, reflecting mixed sentiment across the region.
Regional market trends added pressure to Bursa Malaysia’s broader performance. Japan’s $Nikkei 225 (.N225.JP)$ led the declines in Asia, falling by 0.91%, while China’s $SSE Composite Index (000001.SH)$ and Hong Kong’s $Hang Seng Index (800000.HK)$ slipped marginally by 0.1% and 0.13%, respectively. Singapore’s $FTSE Singapore Straits Time Index (.STI.SG)$, however, managed a small gain of 0.12%, reflecting mixed sentiment across the region.
Sectoral Performance Highlights Diverging Trends
Sector-wise, $Bursa Industrial Products & Services (0002I.MY)$ rose 1.08 points to 172.02, supported by gains in $PCHEM (5183.MY)$. Conversely, $Bursa Plantation (0025I.MY)$ dropped 59.94 points to 7,614.68, and $Bursa Energy (0061I.MY)$ fell by 6.57 points to 822.34, reflecting weaker commodity-linked performance. $Bursa Finance Services (0010I.MY)$ fared better, gaining 66.59 points to 19,089.83, bolstered by $MAYBANK (1155.MY)$ uptick.
Sector-wise, $Bursa Industrial Products & Services (0002I.MY)$ rose 1.08 points to 172.02, supported by gains in $PCHEM (5183.MY)$. Conversely, $Bursa Plantation (0025I.MY)$ dropped 59.94 points to 7,614.68, and $Bursa Energy (0061I.MY)$ fell by 6.57 points to 822.34, reflecting weaker commodity-linked performance. $Bursa Finance Services (0010I.MY)$ fared better, gaining 66.59 points to 19,089.83, bolstered by $MAYBANK (1155.MY)$ uptick.
Midday Outlook: Mixed Sentiment Dominates
Despite modest gains in the benchmark index, the market outlook remains cautious, with investors closely monitoring regional trends and heavyweights’ performance. The absence of strong catalysts suggests limited upward momentum in the near term, with trading expected to remain range-bound between 1,595 and 1,610.
Despite modest gains in the benchmark index, the market outlook remains cautious, with investors closely monitoring regional trends and heavyweights’ performance. The absence of strong catalysts suggests limited upward momentum in the near term, with trading expected to remain range-bound between 1,595 and 1,610.
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