IPPFA Sdn Bhd director of investment strategy and country economist Sedek Jantan said Malaysia’s relatively lower exposure to technology counters helped cushion the FTSE Bursa Malaysia KLCI (FBM KLCI) from broader regional weakness.
He said consumer products and services counters led the gains, supported by Bank Negara Malaysia’s decision to maintain the overnight policy rate at 2.75%, with banking counters also continuing a steady uptrend reflecting investor confidence in stable domestic monetary conditions.
“While global market volatility has generally increased, the FBM KLCI’s volatility remains relatively contained.
“Volatility remains elevated heading into the US jobs report, as traders stay cautious after yesterday’s sell-off in technology and risk assets,” he told Bernama.
Sedek also said market sentiment remains defensive as a stronger-than-expected US payroll print could dampen interest rate cut expectations and extend volatility, while a softer reading may trigger relief across equities and bonds.
At 5pm, the FBM KLCI inched up 0.19 of-a-point, or 0.01%, to 1,619.13 from yesterday’s close of 1,618.94.
The benchmark index opened 1.31 points lower at 1,617.63, and moved within a narrow range between 1,616.50 and 1,621.19 throughout the trading session.
However, the broader market was negative, with 639 losers beating 402 gainers, while 618 counters were unchanged, 1,002 untraded, and 11 suspended.
Turnover fell to 3.53 billion units worth RM2.35 billion compared with 3.96 billion units worth RM2.52 billion yesterday.
Among heavyweights, Maybank dipped 1 sen to RM9.91, while Public Bank gained 1 sen to RM4.27, CIMB Group added 3 sen to RM7.53, Tenaga Nasional perked up 2 sen to RM13.22, and IHH Healthcare was 6 sen higher at RM8.28.
On the most active list, MMAG slipped 1 sen to 8.5 sen, Pharmaniaga climbed 3 sen to 26.5 sen, Perak Transit edged up 2.5 sen to 29 sen, while Pertama Digital erased 6 sen to 5 sen, and NexG Bina eased 0.5 sen to 3.5 sen.
Among the top gainers, Kuala Lumpur Kepong garnered 30 sen to RM21.08, Dutch Lady Milk bagged 18 sen to RM26.96, FCW Holdings rose 15 sen to RM1.90, and both Westports and QL Resources increased 11 sen to RM5.42 and RM4.23, respectively.
As for the top losers, Nestle lost 40 sen to RM112.40, MISC shed 14 sen to RM7.65 and Time Dotcom sank 13 sen to RM4.87. Kerjaya Prospek and Ajinomoto dipped 12 sen each to RM2.58 and RM13.60, respectively.
On the index board, the FBMT 100 Index slid 1.72 points to 11,793.48 and the FBM Emas Index slipped 3.82 points to 12,034.07.
The FBM Emas Shariah Index shed 8.87 points to 12,048.33, the FBM ACE Index declined 32.72 points to 5,050.73, and the FBM Mid 70 Index lost 15.90 points to 16,926.84.
Sector-wise, the plantation index garnered 45.55 points to 8,103.08, while the financial services index eased 0.63 of-a-point to 18,337.24, the energy index slipped 1.40 points to 766.46, and the industrial products and services index fell 0.56 of-a-point to 168.40.
The Main Market volume dipped to 1.51 billion units valued at RM1.93 billion from 1.52 billion units valued at RM2.05 billion yesterday.
Warrants turnover declined to 1.49 billion units worth RM283.58 million compared with 1.99 billion units worth RM341.15 million previously.
However, the ACE Market volume expanded to 527.09 million units valued at RM135.70 million from 445.35 million units valued at RM129.49 million yesterday.
Consumer products and services counters accounted for 412.83 million shares traded on the Main Market, industrial products and services (160.97 million), construction (124.44 million), technology (182.71 million), financial services (52.25 million), property (176.62 million), plantation (35.40 million), real estate investment trusts (22.08 million), closed-end fund (29,400), energy (97.24 million), healthcare (153.46 million), telecommunications and media (28.80 million), transportation and logistics (34.30 million), utilities (27.42 million), and business trusts (9,000).