KUALA LUMPUR — Bursa Malaysia pared most of its losses to close marginally lower today, supported by late buying in banks after heavy selling in CelcomDigi earlier, amid continued weak market sentiment due to the US trade policies.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased by 0.68 of-a-point to 1,591.60 compared to yesterday’s close of 1,592.28.
The market barometer opened 0.63 of-a-point higher at 1,592.91 and moved between an intraday low of 1,587.58 and an intra-day high of 1,595.01.
Losers outnumbered gainers 598 to 433, while 445 counters were unchanged, 843 untraded and 22 suspended.
Turnover expanded to 3.27 billion units worth RM2.40 billion from 2.56 billion units worth RM2.22 billion on Thursday.
Rakuten Trade Sdn Bhd’s vice president of equity research, Thong Pak Leng, said the FBM KLCI remained in consolidation mode, struggling to break past the psychological resistance level of 1,600 despite multiple attempts.
“We believe this is largely due to cautious sentiment surrounding the US tariff war and its potential market impact,” it said.
US President Donald Trump directed the US Trade Representative and Commerce secretary to investigate the proposed reciprocal tariffs, with implementation likely in April.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the recent announcement of reciprocal tariffs, while complex, has provided some relief as markets had feared more immediate action.
“However, the potential for significantly higher tariffs on key trading partners, particularly the European Union, raises concerns about escalating trade tensions,” he said.
On the home front, he said that investors took profit from telecommunications stocks following their strong financial and operational performance.
“Profit-taking after results is a normal occurrence, particularly in the current environment, where the market remains cautious and sensitive to US trade policy, rising inflation data, and a high interest rate landscape.
“Investors are seeking to lock in gains amid heightened uncertainty,” he noted.
Among the heavyweight counters, CelcomDigi led the laggards, losing 33 sen to RM3.54, while Petronas Chemicals declined nine sen to RM4.01, and 99 Speed Mart dipped six sen to RM2.14.
On the other hand, Public Bank bagged four sen to RM4.49, IHH Healthcare was six sen higher at RM7.27, Sunway rose eight sen to RM4.70, and CIMB gained seven sen to RM8.35.
Dialog led the active counters, declining 24 sen to RM1.57, while Velesto Energy and EA Holdings were flat at 18.5 sen and half-a-sen, respectively.
Harvest Miracle perked up half-a-sen to 15 sen, and Notion Vtec sank 23 sen to 92 sen.
On the index board, the FBM Emas Index slid 20.53 points to 12,106.61, the FBMT 100 Index was 15.42 points lower at 11,813.95, and the FBM Emas Shariah Index fell 85.58 points to 11,847.51.
The FBM 70 Index slid 64.12 points to 17,871.23, and the FBM ACE Index tumbled 84.46 points to 5,134.78.
Sector-wise, the Financial Services Index jumped 97.40 points to 19,342.64, the Industrial Products and Services Index eased 0.18 of-a-point to 163.99, the Plantation Index declined 26.73 points to 7,454.92, and the Energy Index shed 19.81 points to 798.55.
The Main Market volume narrowed to 1.50 billion units worth RM2.10 billion from 1.79 billion units worth RM2.39 billion on Thursday.
Warrants turnover swelled to 1.21 billion units worth RM123.59 million against 870.64 million units worth RM101.43 million previously.
The ACE Market volume expanded to 555.34 million units valued at RM179.51 million versus 487.90 million units valued at RM173.12 million yesterday.
Consumer products and services counters accounted for 267.33 million shares traded on the Main Market, industrial products and services (246.78 million), construction (93.87 million), technology (179.94 million), SPAC (nil), financial services (44.46 million), property (117.94 million), plantation (17.76 million), REITs (12.31 million), closed/fund (18,100), energy (385.81 million), healthcare (49.66 million), telecommunications and media (27.78 million), transportation and logistics (14.42 million), utilities (45.96 million), and business trusts (361,100). — February 14, 2025