Apex Securities Bhd head of research Kenneth Leong said the FTSE Bursa Malaysia KLCI (FBM KLCI) extended its decline as investors brushed off the strong retail sales data which recorded a 6.5% year-on-year rise in September 2023.
He said sentiment remains jittery as investors await further guidance on the US interest rate policy direction from several key Fed officials.
“Looking ahead, we expect consolidation to take place as investors may turn to the sidelines ahead of the extended weekend due to the Deepavali festive break,” he told Bernama.
At 5pm, the FBM KLCI fell by 0.36%, or 5.33 points to close at 1,452.27 from yesterday’s closing of 1,457.60.
The index opened 0.76 of-a-point easier at 1,456.84 and moved between 1,450.64 and 1,457.84 throughout the day.
The broader market was negative as decliners outpaced gainers 470 to 439, while 440 counters were unchanged, 1,024 untraded, and 20 others suspended.
Turnover narrowed to 3.32 billion units valued at RM1.94 billion from yesterday’s 3.45 billion units worth RM1.97 billion.
Among the heavyweights, Maybank and Public Bank were flat at RM9.12 and RM4.21, respectively, while CIMB added one sen to RM5.78, Petronas Chemicals lost 11 sen to RM7.20 and Tenaga Nasional fell two sen to RM9.90.
Of the actives, Velesto was 0.5 sen weaker at 25 sen and Kanger slipped one sen to 8.5 sen, while PDZ and Sarawak Consolidated gained 0.5 sen each to six sen and 59 sen, respectively, and Swift Haulage increased 1.5 sen to 56.5 sen.
On the index board, the FBM Emas Index trimmed 36.35 points to 10,743.03, the FBMT 100 Index shed 38.48 points to 10,404.57, the FBM Emas Shariah Index eased 53.55 points to 10,945.88 and the FBM 70 Index weakened 54.12 points to 14,232.49, while the FBM ACE Index gained 29.13 points to 5,159.23.
Sector-wise, the industrial products and services index went down 0.29 of-a-point to 173.12, the plantation index shed 32.97 points to 6,923.39, the energy index was 3.42 points weaker at 861.53 and the financial services index reduced by 4.73 points to 16,365.52.
The Main Market volume was marginally higher at 2.26 billion units worth RM1.71 billion compared with yesterday’s 2.23 billion units worth RM1.71 billion.
Warrants turnover fell to 370.43 million units valued at RM53.15 million from 379.18 million units valued at RM56.94 million yesterday.
The ACE Market volume decreased to 665.88 million shares worth RM178.7 million from 835.54 million shares worth RM209.59 million previously.
Consumer products and services counters accounted for 463.54 million shares traded on the Main Market, industrial products and services (561.78 million); construction (134.68 million); technology (121.07 million); SPAC (nil); financial services (44.18 million); property (180.39 million); plantation (23.76 million); REITs (7.01 million), closed/fund (9,500); energy (201.39 million); healthcare (92.72 million); telecommunications and media (40.68 million); transportation and logistics (237.9 million); and utilities (156.61 million).