UOB Kay Hian Wealth Advisors’ head of investment research Sedek Jantan said the FBM KLCI reversed four consecutive days of gains as profit-taking took hold, reflecting the overnight decline on Wall Street.
“Within the index, energy and industrial stocks led the gains.
“However, despite the composite index’s retreat, buying interest in the healthcare sector remained firm, driven by announcements of expanded glove production capacity by key industry players,” he told Bernama.
Elsewhere, he said the Bursa Malaysia Small Cap, Mid Cap Index and ACE Market have risen over the past fortnight, fuelled by improving economic data from China, signalling growing investor confidence.
Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said market participants remained on edge ahead of the release of key US jobs data, compounded by overnight losses on Wall Street, which further dampened sentiment.
“South Korean equities faced significant sell-offs, driven by political uncertainties that continue to unsettle investor confidence,” he said.
Regionally, most bourses were mostly lower with Singapore’s Straits Times index losing 0.69% to 3,796.16, Japan’s Nikkei dipping 0.77% to 39,091.17, and South Korea’s Kospi dropping 0.56% to 2,428.16.
Hong Kong’s Hang Seng Index advanced 1.56% to 19,865.85, and China’s SSE Composite Index added 1.05% to 3,404.08.
At 5pm, the benchmark index lost 2.39 points or 0.14% to 1,613.25 from yesterday’s close of 1,615.64.
The index opened 0.21 of-a-point higher at 1,615.85 and moved between 1,611.25 and 1,617.57 throughout the day.
However, market breadth was positive as gainers led losers 574 to 465, while 524 counters were unchanged, 913 untraded and 12 suspended.
Turnover narrowed to 3.18 billion units valued at RM2.82 billion versus 3.24 billion units valued at RM2.74 billion yesterday.
Among the heavyweights, Maybank slipped 6 sen to RM10.16, CIMB fell 2 sen to RM8.17, Tenaga Nasional dropped 8 sen to RM13.52, and IHH eased 1 sen to RM7.32. In contrast, Public Bank was 1 sen higher at RM4.58.
Of the active stocks, Supermax gained 7.5 sen to RM1.06, Top Glove bagged 7 sen to RM1.32, MyEG ticked up 1 sen to 92 sen, Bumi Armada increased 1.5 sen to 63.5 sen, while YNH Property shed 14 sen to 56.5 sen, and Zen Tech was flat at 1 sen.
On the index board, the FBM Emas Index rose 18.71 points to 12,346.90, the FBMT 100 Index increased 13.42 points to 12,027.7, and the FBM 70 Index surged 134.67 points to 18,400.21. The FBM Emas Shariah Index climbed 19.03 points to 12,323.13 and the FBM ACE Index jumped 62.43 points to 5,307.19.
Sector-wise, the financial services index decreased 27.41 points to 19,165.61, the plantation index shaved 37.99 points to 7,740.26, the energy index perked up 8.57 points to 829.13, and the industrial products and services index inched up 0.48 of-a-point to 175.8.
The Main Market volume slid to 1.58 billion units worth RM2.54 billion against yesterday’s close of 1.65 billion units worth RM2.42 billion.
Warrants turnover expanded to 1.11 billion units valued at RM112.96 million from 920.42 million units valued at RM99.11 million previously.
The ACE Market volume dwindled to 454.43 million units worth RM166.17 million compared with 662.72 million units worth RM213.96 million yesterday.
Consumer products and services counters accounted for 237.67 million shares traded on the Main Market, industrial products and services (269.22 million), construction (90.74 million), technology (202.11 million), SPAC (nil), financial services (113.51 million), property (165.86 million), plantation (39.49 million), REITs (10.72 million), closed/fund (3,000), energy (124.45 million), healthcare (227.34 million), telecommunications and media (24.96 million), transportation and logistics (39.46 million), utilities (40.95 million), and business trusts (113,300).