At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.31 points to 1,454.19 from Monday’s closing of 1,455.50.
The index opened 0.99 of a point higher at 1,456.49 and moved between 1,452.43 and 1,458.97 throughout the day.
Market breadth was negative with decliners thumping advancers 739 to 255, while 307 counters were unchanged, 946 untraded, and 55 others suspended.
Turnover, however, soared to 4.63 billion units worth RM3.95 billion from Monday’s 3.09 billion units worth RM2.19 billion.
Investors are awaiting the US consumer confidence data, wholesale inventories, the Chicago PMI due tonight, and China’s official February and Caixin manufacturing PMIs due tomorrow, for fresh clues on the world’s two largest economies’ economic trajectories.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI remained stuck in a consolidation mode due to a lack of clear direction among investors.
“The key regional indices are also in a similar pattern as fears of rising US interest rates continued to batter regional sentiment.
“Additionally, investor sentiment has also been weighed down by rising geopolitical tension, with US-China relations (being) the dominant uncertainty at the forefront of investor minds,” he told Bernama.
Sentiment in the Chinese equities market has turned hesitant over the republic’s economic recovery, with investors now turning to the “two sessions” meeting in Beijing, China from March 4 in hopes of more policy stimulus.
Among the heavyweights, Tenaga Nasional fell 27 sen to RM9.37, Petronas Dagangan dipped 96 sen to RM21.02, Maxis was 9 sen weaker at RM3.91, while Sime Darby Plantation and Dialog dropped 7 sen to RM4.23 and RM2.25 respectively.
CIMB climbed 7 sen to RM5.61 while Maybank rose 5 sen to RM8.80.
As for active stocks, Velesto lost 8.5 sen to 19 sen, Hartalega went down eight sen to RM1.47, Gamuda was flat at RM4.20, and Pharmaniaga tumbled 17 sen to 27 sen.
On the index board, the FBM Emas Index trimmed 26.12 points to 10,579.13, the FBMT 100 Index slid 6.68 points to 10,271.46 and the FBM ACE Index fell 178.44 points to 5,358.27.
The FBM Emas Shariah Index dropped 62.35 points to 10,797.67 and the FBM 70 Index put on 2.14 points to 13,436.63.
Sector-wise, the financial services index gained 63.81 points to 16,194.83, the energy index declined 46.37 points to 843.57, the plantation index shed 2.80 points to 6,766.64 and the industrial products and services index eased 0.63 of-a-point to 177.43.
The Main Market volume surged to 3.56 billion shares worth RM3.64 billion from Monday’s 1.89 billion shares worth RM1.85 billion.
Warrants turnover shrank to 305.37 million units worth RM54.41 million from 335.38 million units worth RM50.88 million yesterday.
The ACE Market volume dwindled to 764.19 million shares worth RM260.79 million from 808.61 million shares worth RM283.14 million previously.
Consumer products and services counters accounted for 392.61 million shares traded on the Main Market, industrial products and services (643.81 million); construction (264.81 million); technology (459.05 million); SPAC (nil), financial services (120.21 million); property (166 million); plantation (40.20 million); REITs (10.44 million), closed/fund (9,000); energy (874 million); healthcare (410 million); telecommunications and media (60.58 million); transportation and logistics (65.39 million); and utilities (57.30 million).