Bursa ends lower amid profit-taking
Across the region, equities were mostly higher as investors assessed the implications of a divided US government, says analyst.
Bursa Malaysia concluded lower on Monday as investors engaged in profit-taking, particularly affecting banking and telecommunications giants, despite a rise in market breadth due to renewed interest in smaller-cap technology stocks. Regional equities predominantly rose, with Hong Kong and mainland China experiencing a rebound as investors evaluated the impact of a US government split.
US Treasury yields decreased, and the US dollar weakened, providing some market relief. Brent crude oil remained near US$103 per barrel due to optimism surrounding potential progress in West Asia diplomacy, but geopolitical concerns persisted. Local market participants expressed cautious optimism, noting that the recent correction had made certain blue-chip stocks more attractive, and growing interest in smaller-cap technology firms indicated continued willingness to take calculated risks.
Despite potential volatility from external factors, selective accumulation of strong blue-chip stocks could foster a steady market recovery. At the close, the FTSE Bursa Malaysia KLCI fell 5.29 points or 0.32% to 1,616.56 from the previous day's 1,621.85. The index opened 1.46 points higher than the prior close at 1,623.31, reaching a high of 1,614.34 before dropping to a low of 1,614.34 mid-afternoon.
Market breadth was positive, with 645 gainers against 441 losers, while 520 stocks remained unchanged, 1,155 were untraded, and 10 were suspended. Turnover reached 2.81 billion units valued at RM2.57 billion, up from 2.63 billion units valued at RM2.64 billion the previous day. Among key stocks, Maybank fell 14 sen to RM9.90, Public Bank declined four sen to RM4.77, Tenaga Nasional slipped two sen to RM13.14, and CIMB decreased seven sen to RM6.91.
IHH Healthcare rose two sen to RM7.78, while Aizo, GIIB, and Inari Amertron saw minor declines. MPI led the gainers, with MPI advancing RM1.12 to RM40.62, Vitrox rising 48 sen to RM10.90, UWC increasing 32 sen to RM7.20, Pentamaster jumping 31 sen to RM5.58, and Kesm Industries soaring 21 sen to RM4.65. Notably, lower performers included Fraser & Neave, which slipped 24 sen to RM20.96, Nestle falling RM2.38 to RM93.50, Mega Fortris dropping 33 sen to RM2.54, Sarawak Oil Palms declining 14 sen to RM5.39, and Mulpha International decreasing 12 sen to RM2.55.
Index-wise, the FBM Emas Index climbed 9.66 points to 12,077.98, the FBM Top 100 Index rose 5.23 points to 11,885.08, the FBM Mid 70 Index surged 192.35 points to 17,511.25, the FBM Emas Shariah Index advanced 59.52 points to 12,104.43, and the FBM ACE Index increased 101.74 points to 5,420.78. Sector performances varied, with industrial products and services up 0.63 points to 178.21, energy up 0.92 points to 827.92, financial services down 130.60 points to 18,586.31, and plantation down 7.77 points to 8,761.88.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
