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Bursa Malaysia Falls at Midday Amid Profit-Taking and Geopolitical Concerns
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Bursa Malaysia ended the morning session lower, driven by profit-taking activity and rising geopolitical tensions in the Middle East. $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ fell by 3.70 points, or 0.23%, closing at 1,635.61 at midday. This decline reflects the cautious sentiment that has permeated regional markets, with investors showing a preference for safer assets as uncertainties around global economic growth and political instability intensify.
The index opened slightly higher at 1,640.70, but selling pressure took over within the first 20 minutes of trading, leading the market into negative territory. By midday, the broader market saw 504 decliners outnumbering 361 gainers, with 477 counters unchanged. Turnover amounted to 1.84 billion units valued at RM1.12 billion, reflecting relatively subdued market participation.
The index opened slightly higher at 1,640.70, but selling pressure took over within the first 20 minutes of trading, leading the market into negative territory. By midday, the broader market saw 504 decliners outnumbering 361 gainers, with 477 counters unchanged. Turnover amounted to 1.84 billion units valued at RM1.12 billion, reflecting relatively subdued market participation.
$FTSE Bursa Malaysia Small Cap Index (.FBMSCAP.MY)$
Sectoral Performance and Stock Movements
Heavyweight counters saw mixed performances, with $MAYBANK (1155.MY)$ and $IHH (5225.MY)$ remaining flat at RM10.46 and RM7.24, respectively. $PBBANK (1295.MY)$ managed a modest gain of 2 sen, closing at RM4.55, while $CIMB (1023.MY)$ dropped 2 sen to RM7.96. $TENAGA (5347.MY)$, a key component of the index, experienced a sharper decline, losing 20 sen to close at RM14.10.
In the broader market, $HENGYUAN (4324.MY)$ emerged as the top gainer, surging by 34 sen (16.27%) to RM2.43, driven by the rising oil prices linked to supply fears from the Middle East conflict. In contrast, $PERTAMA (8532.MY)$ fell by 48 sen to RM1.12, and $NESTLE (4707.MY)$ lost 90 sen to close at RM104.60.
Sectoral Indices and Broader Market Trends
The performance of sectoral indices further illustrated the mixed sentiment in the market. $Bursa Plantation (0025I.MY)$ managed to rise by 14.07 points to 7,186.12, supported by stable commodity prices. $Bursa Finance Services (0010I.MY)$ also gained 36.97 points to 19,201.81, benefiting from select buying in key banking stocks. However, $Bursa Industrial Products & Services (0002I.MY)$ edged lower, losing 0.03 points to 176.51, as profit-taking hit manufacturing and industrial stocks.
Meanwhile, $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.MY)$ fell by 30.93 points to 12,235.22, and $FTSE Bursa Malaysia Top 100 Index (.FBM100.MY)$ slipped 31.48 points to 11,929.54, reflecting broader market weakness. $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$, which typically represents small-cap stocks, also experienced a decline, dropping by 10.40 points to 5,115.42.
Sectoral Performance and Stock Movements
Heavyweight counters saw mixed performances, with $MAYBANK (1155.MY)$ and $IHH (5225.MY)$ remaining flat at RM10.46 and RM7.24, respectively. $PBBANK (1295.MY)$ managed a modest gain of 2 sen, closing at RM4.55, while $CIMB (1023.MY)$ dropped 2 sen to RM7.96. $TENAGA (5347.MY)$, a key component of the index, experienced a sharper decline, losing 20 sen to close at RM14.10.
In the broader market, $HENGYUAN (4324.MY)$ emerged as the top gainer, surging by 34 sen (16.27%) to RM2.43, driven by the rising oil prices linked to supply fears from the Middle East conflict. In contrast, $PERTAMA (8532.MY)$ fell by 48 sen to RM1.12, and $NESTLE (4707.MY)$ lost 90 sen to close at RM104.60.
Sectoral Indices and Broader Market Trends
The performance of sectoral indices further illustrated the mixed sentiment in the market. $Bursa Plantation (0025I.MY)$ managed to rise by 14.07 points to 7,186.12, supported by stable commodity prices. $Bursa Finance Services (0010I.MY)$ also gained 36.97 points to 19,201.81, benefiting from select buying in key banking stocks. However, $Bursa Industrial Products & Services (0002I.MY)$ edged lower, losing 0.03 points to 176.51, as profit-taking hit manufacturing and industrial stocks.
Meanwhile, $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.MY)$ fell by 30.93 points to 12,235.22, and $FTSE Bursa Malaysia Top 100 Index (.FBM100.MY)$ slipped 31.48 points to 11,929.54, reflecting broader market weakness. $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$, which typically represents small-cap stocks, also experienced a decline, dropping by 10.40 points to 5,115.42.
Global and Geopolitical Influence
The market’s downward trend was influenced by external factors, particularly the escalating tensions in the Middle East following the recent missile strikes between Iran and Israel. Investors reacted by reducing exposure to riskier assets, with many opting to sit on the sidelines as geopolitical risks rose. Regional markets mirrored this cautious sentiment, with major indices across Asia, including Japan’s $Nikkei 225 (.N225.JP)$ and Hong Kong’s $Hang Seng Index (800000.HK)$, experiencing mixed performances.
In $Bursa Energy (0061I.MY)$, oil prices surged, with Brent crude futures rising over 3%, further supporting gains in energy-related stocks on Bursa Malaysia. The jump in oil prices is seen as a direct consequence of concerns over potential supply disruptions due to the Middle East conflict.
Outlook for the Afternoon Session
Looking ahead, $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ is expected to remain under pressure, with the index likely to trade between 1,635 and 1,645. Investors will continue to monitor developments in the Middle East and global economic data, which could further influence market direction. While some bargain-hunting activity may emerge, the broader market trend suggests that cautious sentiment will persist in the near term.
In summary, profit-taking activities, coupled with geopolitical uncertainties, have weighed on Bursa Malaysia, leading to a decline in midday trading. Despite some pockets of strength in the energy and plantation sectors, the market outlook remains uncertain, with external factors driving investor sentiment.
The market’s downward trend was influenced by external factors, particularly the escalating tensions in the Middle East following the recent missile strikes between Iran and Israel. Investors reacted by reducing exposure to riskier assets, with many opting to sit on the sidelines as geopolitical risks rose. Regional markets mirrored this cautious sentiment, with major indices across Asia, including Japan’s $Nikkei 225 (.N225.JP)$ and Hong Kong’s $Hang Seng Index (800000.HK)$, experiencing mixed performances.
In $Bursa Energy (0061I.MY)$, oil prices surged, with Brent crude futures rising over 3%, further supporting gains in energy-related stocks on Bursa Malaysia. The jump in oil prices is seen as a direct consequence of concerns over potential supply disruptions due to the Middle East conflict.
Outlook for the Afternoon Session
Looking ahead, $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ is expected to remain under pressure, with the index likely to trade between 1,635 and 1,645. Investors will continue to monitor developments in the Middle East and global economic data, which could further influence market direction. While some bargain-hunting activity may emerge, the broader market trend suggests that cautious sentiment will persist in the near term.
In summary, profit-taking activities, coupled with geopolitical uncertainties, have weighed on Bursa Malaysia, leading to a decline in midday trading. Despite some pockets of strength in the energy and plantation sectors, the market outlook remains uncertain, with external factors driving investor sentiment.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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