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KUALA LUMPUR: Bursa Malaysia ended lower today, weighed down by persistent profit-taking amid ongoing concerns over global trade tariffs.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Sedek Jantan said today&#8217;s consolidation is viewed as a natural response to prevailing uncertainties.
“Market volatility remains elevated due to policy uncertainties, making profit-taking in outperformers a rational and prudent strategy,” he told Bernama.
Sedek said that further intensifying the concerns, US president Donald Trump has urged China to engage in direct negotiations following Beijing’s decision to suspend deliveries of Boeing jets to its airlines.
“However, we believe trade-related instability will gradually subside, particularly among countries opting for negotiation over retaliation.
“Investors are also closely awaiting Federal Reserve chair Jerome Powell’s remarks on the US economy later today at The Economic Club of Chicago, which are expected to provide critical insights into monetary policy and economic prospects,” he added.
Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said market volatility has eased following the postponement of US tariff measures.
“The overall sentiment appears to be improving, and we view today’s profit-taking as a healthy market correction.
“If the index breaks above the 1,500 psychological level, we anticipate further upside in the near term,” he said.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 9.51 points, or 0.64%, to 1,476.92 compared to yesterday’s close of 1,486.43.
The benchmark index opened 0.02 of-a-point higher to 1,486.45 and moved between 1,472.84 and 1,487.50 throughout the day.
In the broader market, decliners outpaced gainers 573 to 320, while 434 counters were unchanged, 1,071 untraded, and nine others suspended.
Turnover slipped to 3 billion units valued at RM1.65 billion from 3.36 billion units valued at RM1.91 billion yesterday.
Among the heavyweights, Maybank shed 10 sen to RM9.84, Public Bank eased 1 sen to RM4.30, CIMB Group and IHH Healthcare rose 1 sen to RM6.71 and RM6.82 respectively, while Tenaga Nasional was flat at RM13.44.
Among the actives, Pertama Digital increased 1 sen to 14 sen, Revenue Group and Iskandar Waterfront edged up 0.5 sen to 9.5 sen and 38 sen respectively, while Dataprep Holdings and MyEG Services declined 2 sen each to 13.5 sen and 90.5 sen respectively.
On the index board, the FBM Emas Index declined 75.47 points to 10,963.73, the FBMT 100 Index slipped 73.77 points to 10,749.86, the FBM Emas Shariah Index dropped 78.79 points to 10,774.91, the FBM 70 Index tumbled 124.18 points to 15,426.10, and the FBM ACE Index slid 22.53 points to 4,515.23.
Sector-wise, the plantation index gave up 21.40 points to 7,184.49, the financial services index shrank 109.70 points to 17,717.67, the industrial products and services index shed 1.80 points to 143.48, and the energy index lost 8.13 points to 646.75.
The Main Market volume declined to 1.17 billion units worth RM1.36 billion from 1.32 billion units worth RM1.60 billion yesterday.
Warrants turnover fell to 1.53 billion units valued at RM191.02 million from 1.62 billion units valued at RM189.06 million yesterday.
The ACE Market volume dwindled to 292.67 million units worth RM90.03 million from 418.22 million units worth RM120.69 million previously.
Consumer products and services counters accounted for 237.36 million shares traded on the Main Market, industrial products and services (149.44 million), construction (87.87 million), technology (212.23 million), SPAC (nil), financial services (57.97 million), property (143.34 million), plantation (19.90 million), REITs (5.02 million), closed/fund (23,000), energy (91.11 million), healthcare (77.59 million), telecommunications and media (30.12 million), transportation and logistics (21.26 million), utilities (38.12 million), and business trusts (2,200).

MatchPoint Times

Bursa ends lower on profit-taking, trade tariff concerns

If the index breaks above the 1,500 psychological level, we anticipate further upside in the near-term, says analyst.

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