Bursa Malaysia ends marginally lower amid lack of fresh catalysts
KUALA LUMPUR: Bursa Malaysia ended marginally lower on Monday amid selling activity as the market lacked fresh catalysts to spur investors’ buying interest, an analyst said.
On Monday, Bursa Malaysia closed marginally lower as investors lacked fresh incentives to drive buying interest, according to an analyst. The FTSE Bursa Malaysia KLCI dropped 1.60 points, or 0.09 percent, to 1,670.02, from Friday's close of 1,671.62. The benchmark index opened 0.93 of-a-point higher at 1,672.55 on Monday and fluctuated between 1,668.61 and 1,674.11 throughout the trading session.
Negative market breadth was evident, with more losers than gainers and unchanged counters outnumbered by suspended or untraded stocks. Trading volume decreased to 3.11 billion units, valued at RM2.40 billion, down from 4.07 billion units on Friday. Analyst Thong Pak Leng of Rakuten Trade Sdn Bhd maintained a cautious outlook, citing persistent external headwinds and foreign selling that could hinder near-term growth.
However, the recent market correction has brought valuations of selected blue-chip stocks into more attractive ranges, potentially encouraging bargain hunters, particularly in fundamentally strong companies. Analyst Kenneth Leong of Berjaya Research Sdn Bhd expects the FBM KLCI to oscillate within the 1,660-1,690 range for the week.
Market attention will also shift towards US job openings and consumer confidence data released tomorrow, which may impact expectations for the Federal Reserve's policy stance and global risk sentiment. Heavyweights such as Maybank, Public Bank, CIMB, Tenaga Nasional, and IHH Healthcare showed minor fluctuations, while Zetrix AI, ACE Market debutant Evocom, Jaks Resources, and Inari Amertron maintained their respective prices.
Among the top gainers, Hong Leong Bank and Hong Leong Financial experienced notable increases. Among the top losers, Malaysian Pacific Industries, United Plantations, and Fraser & Neave reported significant declines. The FBM Mid 70 Index, FBM Emas Index, FBM Top 100 Index, FBM Emas Shariah Index, and FBM ACE Index also experienced minor declines.
Sector-wise, the Financial Services Index rose, while the Industrial Products and Services, Energy, and Plantation indices suffered losses.
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- Bursa Malaysia ends marginally lower amid lack of fresh catalysts malaymail.com
- Bursa ends marginally lower amid lack of fresh catalysts freemalaysiatoday.com
