Bursa Malaysia Ends Flat Amid Cautious Sentiment, Mixed Domestic Developments

By Harizah Hanim Mohamed

KUALA LUMPUR, July 21 (Bernama) -- Bursa Malaysia ended almost flat on Monday, with the key index slipping 0.08 per cent, reflecting cautious market tone amid mixed domestic developments and bucking the broader regional trend.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) erased 1.27 points to 1,524.59 from last Friday’s close of 1,525.86.

The benchmark index was 0.60 of a point better at 1,526.86 at the opening bell and moved between 1,520.02 and 1,526.46 throughout the trading session.

The market breadth was negative, with 607 losers overtaking 342 gainers and 504 counters unchanged, while 1,014 were untraded and seven suspended.

Turnover improved to 3.5 billion shares worth RM2.68 billion from 3.18 billion shares worth RM2.81 billion on last Friday.  

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said upbeat sentiment was seen across Asia, however, selling pressure continued to persist across emerging markets.

“We believe investor funds are rotating into Hong Kong and Chinese equities. Locally, ongoing foreign and retail selling reflects a cautious wait-and-see sentiment. Nonetheless, the FBM KLCI is well supported above the 1,520 level.

“We reckon today's selldown offers opportunity to bargain hunt stocks at lower levels, hence we expect the index to trend within the 1,510-1,540 level for the week,” he added.

UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan opined that investors are assessing news of the Malaysian Anti-Corruption Commission (MACC) probe, launched last Thursday in connection with alleged corruption involving a data centre project tender.

“Despite initial concerns, the impact of the investigation appears confined to selected counters, with no sign of broader market contagion.

“This was underscored by today’s market performance, where stocks linked to data centres, telecommunications and industrials ranked among the leading gainers, indicating that investor sentiment towards these sectors remains fundamentally resilient,” he added.

Mohd Sedek also said that investors are expected to adopt a selective stance, reassessing exposures within the data centre and technology sectors rather than engaging in broad-based selling.

Of the heavyweight stocks, Maybank and Tenaga Nasional were flat at RM9.52 and RM13.78, Public Bank was one sen lower at RM4.30, CIMB rose one sen to RM6.52 and IHH advanced six sen to RM6.63. 

Among the most active stocks, SunCon was 49 sen lower at RM5.49, NexG gained one sen to 50.5 sen, Pharmaniaga advanced 6.5 sen to 22 sen while Tanco lost half-a-sen to 90.5 sen.

On the broader index board, the FBM Emas Index fell 17.90 points to 11,461.93, the FBMT 100 Index shed 16.87 points to 11,224.82, and the FBM Emas Shariah Index dropped 28.16 points to 11,509.71.

The FBM 70 Index dipped 57.84 points to 16,639.88, while the FBM ACE Index trimmed 34.11 points to 4,637.68.

By sector, the Industrial Products and Services Index improved 0.26 of a point to 155.64 and the Energy Index edged up 0.37 of a point to 739.50.

But, the Financial Services Index decreased 34.42 points to 17,320.41 and the Plantation Index slipped 20.85 points to 7,421.04.

The Main Market volume narrowed to 1.38 billion units valued at RM2.27 billion from 1.50 billion units valued at RM2.46 billion on last Friday.

Warrant turnover fell to 1.75 billion units worth RM265.26 million from 1.38 billion units valued at RM207.39 million previously.

The ACE Market volume soared to 363 million units from valued at RM147.63 million from 466.10 million units valued at RM188.24 million previously.

Consumer products and services counters accounted for 172.67 million shares traded on the Main Market; industrial products and services (201.75 million), construction (228.01 million), technology (236.68 million), SPAC (nil), financial services (47.02 million), property (195.00 million), plantation (9.49 million), REITs (25.75 million), closed-end fund (12,600), energy (64.33 million), healthcare (125.75 million), telecommunications and media (24.55 million), transportation and logistics (23.96 million), utilities (23.55 million), and business trusts (33,500).

-- BERNAMA