Bursa Malaysia Ends Lower On US Tariff Concerns, CI Down 1.0 Pct

By Durratul Ain Ahmad Fuad

KUALA LUMPUR, March 4 (Bernama) -- Bursa Malaysia closed lower for a fourth consecutive day today in tandem with the weak regional market performance on trade war concerns following the United States’ (US) confirmation of its tariff imposition on Mexico, Canada and China, effective today.  

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 15.73 points or 1.0 per cent to 1,555.66 from yesterday’s close of 1,571.39. 

The market bellwether opened 9.69 points lower at 1,561.70, and moved between 1,555.04 and 1,564.26 throughout the day. 

On the broader market, decliners trounced gainers 840 to 140, while 514 counters were unchanged, 837 untraded, and six suspended. 

Turnover advanced to 3.81 billion units worth RM3.04 billion from 3.18 billion units worth RM2.44 billion yesterday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the slew of disappointing United States (US) economic reports in the last two weeks also weighed on market sentiment.

“Regional investors are closely watching the National People’s Congress meeting, which begins in Beijing on Wednesday, anticipating China to outline economic stimulus measures,” he told Bernama.

On the local front, he said investors are staying on the sidelines in search of fresh market drivers, with the benchmark index likely to trade sideways.

“However, bargain hunting could emerge due to attractive valuations.

“At this stage, we recommend maintaining caution and prioritising large-cap stocks such as banks, plantations, and retail real estate investment trust (REITs), which provide solid dividend yields for defensive play,” he added. 

Therefore, Thong foresees the benchmark index fluctuating between 1,550 and 1,580 for the rest of the week.

Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI fell today in line with regional indices as investors adopted a risk-off stance following the enforcement of new levies on Canada, Mexico, and China.

“The move has heightened concerns over escalating global trade tensions, further weighing on market sentiment,” he said. 

He said growth sectors experienced significant losses in today’s trade, with the Bursa Malaysia technology index declining by 4.7 per cent, reflecting heightened investor caution amid prevailing macroeconomic uncertainties.

Among heavyweights, Maybank eased 8.0 sen to RM10.60, Public Bank slid 3.0 sen to RM4.53, CIMB was flat at RM8.00, Tenaga Nasional went down 10 sen to RM13.60, and IHH Healthcare slid 7.0 sen to RM7.35. 

As for the actives, NationGate gained 15 sen to RM1.45, Ingenieur Gudang inched down half-a-sen to 3.0 sen, Genting Malaysia and Sime Darby Property erased 9.0 sen each to RM1.81 and RM1.30, respectively, and Velesto Energy eased 1.0 sen to 16 sen.

On the index board, the FBM Emas Index dipped 167.02 points to 11,544.87, the FBMT 100 Index dropped 149.22 points to 11,330.15, the FBM Emas Shariah Index lost 184.69 points to 11,163.34, and the FBM ACE Index slid 140.70 points to 4,551.37, and the FBM 70 Index tumbled 353.34 points to 16,286.04.

By sector, the Energy Index edged down 20.55 points to 735.0, the Financial Services Index shed 125.68 points to 19,258.35, the Industrial Products and Services Index gave up 3.44 points to 153.09, and the Plantation Index was 36.68 points lower at 7,483.01.

The Main Market volume advanced to 2.07 billion units worth RM2.77 billion from 1.64 billion units worth RM2.19 billion on Monday. 

Warrants turnover improved to 1.14 billion units worth RM100.75 million against 1.13 billion units worth RM117.87 million previously.

The ACE Market volume expanded to 594.95 million units valued at RM173.54 million versus 410.41 million units valued at RM125.43 million yesterday. 

Consumer products and services counters accounted for 334.25 million shares traded on the Main Market, industrial products and services (546.96 million), construction (167.37 million), technology (249.78 million), SPAC (nil), financial services (83.40 million), property (231.78 million), plantation (38.83 million), REITs (19.76 million), closed/fund (25,800), energy (187.85 million), healthcare (79.90 million), telecommunications and media (32.22 million), transportation and logistics (34.20 million), utilities (59.98 million), and business trusts (64,000).

-- BERNAMA