Bursa Malaysia Closes Lower Amid Broad-Based Selling
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Bursa Malaysia closed lower today, with the $FTSE Bursa Malaysia KLCI Index (.KLSE.GI)$ dipping 13.20 points, or 0.81%, to 1,611.05. The market was dragged down by broad-based selling in tandem with a regional slump, as investors remained cautious about slowing US economic growth and expectations of another rate hike in Japan.
Key Highlights
• Opening and Range: The $FTSE Bursa Malaysia KLCI Index (.KLSE.GI)$ opened 4.94 points lower at 1,619.31 and fluctuated between 1,607.75 and 1,619.31 throughout the day.
• Market Breadth: Losers outpaced gainers 1,316 to 155, with 267 counters unchanged, 680 untraded, and 20 suspended.
• Turnover: Rose to 5.17 billion units worth RM3.98 billion from Thursday’s 3.51 billion units worth RM2.71 billion.
Sector and Stock Performance
• Heavyweights:
• Losers: $MAYBANK (1155.BMS)$ (-2 sen to RM10.24), $TENAGA (5347.BMS)$ (-14 sen to RM13.96), $CIMB (1023.BMS)$ (-3 sen to RM7.40), $IHH (5225.BMS)$ (-7 sen to RM6.25).
• Gainers: $PBBANK (1295.BMS)$ (+2 sen to RM4.28).
• Actives:
• Losers: $HUBLINE (7013.BMS)$ (-3 sen to 10 sen), $VELESTO (5243.BMS)$ (-0.5 sen to 21.5 sen), $MYEG (0138.BMS)$ (-4 sen to 97 sen), $TOPGLOV (7113.BMS)$ (-5 sen to 98 sen).
• Flat: $TAWIN (7097.BMS)$ at 3 sen.
Index and Sector Performance
• Index Board:
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.GI)$: Fell 207.37 points to 12,303.50.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.GI)$: Dropped 182.70 points to 11,919.95.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.GI)$: Decreased 279.63 points to 12,448.15.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.GI)$: Down 161.21 points to 5,470.41.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.GI)$: Tumbled 587.70 points to 17,902.80.
• Sector Performance:
• $Bursa Finance Services (0010I.BMS)$: Lost 48.38 points to 18,231.59.
• $Bursa Energy (0061I.BMS)$: Declined by 30.02 points to 929.15.
• $Bursa Plantation (0025I.BMS)$: Dropped 48.31 points to 7,143.61.
• $Bursa Industrial Products & Services (0002I.BMS)$: Eased 5.51 points to 185.50.
Market Sentiment and Analysis
• Opening and Range: The $FTSE Bursa Malaysia KLCI Index (.KLSE.GI)$ opened 4.94 points lower at 1,619.31 and fluctuated between 1,607.75 and 1,619.31 throughout the day.
• Market Breadth: Losers outpaced gainers 1,316 to 155, with 267 counters unchanged, 680 untraded, and 20 suspended.
• Turnover: Rose to 5.17 billion units worth RM3.98 billion from Thursday’s 3.51 billion units worth RM2.71 billion.
Sector and Stock Performance
• Heavyweights:
• Losers: $MAYBANK (1155.BMS)$ (-2 sen to RM10.24), $TENAGA (5347.BMS)$ (-14 sen to RM13.96), $CIMB (1023.BMS)$ (-3 sen to RM7.40), $IHH (5225.BMS)$ (-7 sen to RM6.25).
• Gainers: $PBBANK (1295.BMS)$ (+2 sen to RM4.28).
• Actives:
• Losers: $HUBLINE (7013.BMS)$ (-3 sen to 10 sen), $VELESTO (5243.BMS)$ (-0.5 sen to 21.5 sen), $MYEG (0138.BMS)$ (-4 sen to 97 sen), $TOPGLOV (7113.BMS)$ (-5 sen to 98 sen).
• Flat: $TAWIN (7097.BMS)$ at 3 sen.
Index and Sector Performance
• Index Board:
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.GI)$: Fell 207.37 points to 12,303.50.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.GI)$: Dropped 182.70 points to 11,919.95.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.GI)$: Decreased 279.63 points to 12,448.15.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.GI)$: Down 161.21 points to 5,470.41.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.GI)$: Tumbled 587.70 points to 17,902.80.
• Sector Performance:
• $Bursa Finance Services (0010I.BMS)$: Lost 48.38 points to 18,231.59.
• $Bursa Energy (0061I.BMS)$: Declined by 30.02 points to 929.15.
• $Bursa Plantation (0025I.BMS)$: Dropped 48.31 points to 7,143.61.
• $Bursa Industrial Products & Services (0002I.BMS)$: Eased 5.51 points to 185.50.
Market Sentiment and Analysis
The market sentiment was weighed down by geopolitical tensions in the Middle East and concerns over the US manufacturing sector contracting for the fourth consecutive month. Investors are now focusing on the upcoming US non-farm payrolls report, which is expected to provide key insights into the US labor market and economic conditions.
Insights and Outlook
• Broad-Based Selling: The negative tone was evident across most sectors, with significant declines in $Bursa Finance Services (0010I.BMS)$, $Bursa Energy (0061I.BMS)$, and $Bursa Plantation (0025I.BMS)$ stocks.
• Volume and Turnover: The Main Market volume improved, with significant trading in $Bursa Consumer Products & Services (0001I.BMS)$, $Bursa Industrial Products & Services (0002I.BMS)$, and $Bursa Construction (0003I.BMS)$ sectors.
• Global Influence: The sell-off was influenced by the Bank of Japan’s interest rate hike and mixed performances in other major Asian markets, including significant declines in Japan’s $Nikkei 225 (.N225.JP)$ and Hong Kong’s $Hang Seng Index (800000.HK)$ Index.
Investors should remain cautious but watch for potential buying opportunities in sectors that may benefit from upcoming economic data and corporate earnings reports.
Insights and Outlook
• Broad-Based Selling: The negative tone was evident across most sectors, with significant declines in $Bursa Finance Services (0010I.BMS)$, $Bursa Energy (0061I.BMS)$, and $Bursa Plantation (0025I.BMS)$ stocks.
• Volume and Turnover: The Main Market volume improved, with significant trading in $Bursa Consumer Products & Services (0001I.BMS)$, $Bursa Industrial Products & Services (0002I.BMS)$, and $Bursa Construction (0003I.BMS)$ sectors.
• Global Influence: The sell-off was influenced by the Bank of Japan’s interest rate hike and mixed performances in other major Asian markets, including significant declines in Japan’s $Nikkei 225 (.N225.JP)$ and Hong Kong’s $Hang Seng Index (800000.HK)$ Index.
Investors should remain cautious but watch for potential buying opportunities in sectors that may benefit from upcoming economic data and corporate earnings reports.
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