Bursa Malaysia Ends At Intraday Low Amid Mixed Regional Sentiment

By Nurunnasihah Ahmad Rashid

KUALA LUMPUR, Jan 14 (Bernama) -- Bursa Malaysia failed to sustain the buying momentum seen most of the day to end at an intraday low on late selling of selected utilities and plantation heavyweight counters, amid a mixed performance in regional peers.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 9.13 points, or 0.57 per cent, to 1,576.46 from Monday’s close of 1,585.59. 

The benchmark index, which opened 7.38 points higher at 1,592.97, moved between 1,576.46 and 1,599.43 during the trading session.

The broader market was negative with decliners leading gainers 588 to 400, while 529 counters were unchanged, 842 untraded, and 17 suspended.

Turnover increased to 3.45 billion units valued at RM2.72 billion against Monday’s 2.85 billion units valued at RM2.54 billion.

UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said the index had opened higher, reflecting initial strength and hinting at a recovery from the declines accumulated over the past week.

“However, the momentum waned as the session progressed, reflecting continued caution among investors. Nonetheless, signs of a rebound emerged as bargain hunters capitalised on undervalued blue-chip stocks.

“This cautious optimism reflects the market's underlying resilience, but also its vulnerability to external pressures such as global economic challenges and geopolitical uncertainties,” he told Bernama.

Regionally, Mohd Sedek said the Johor-Singapore Special Economic Zone, formalised last week, is poised to drive regional economic growth and attract cross-border investments.

“Although its immediate impact has been overshadowed by recent market volatility, the initiative’s long-term potential remains promising, with benefits likely to become more evident as market conditions stabilise,” he added.

Regionally, Japan’s Nikkei 225 fell 1.83 per cent to 38,474.30 and Singapore's Straits Times Index eased 0.08 per cent to 3,788.77, while Hong Kong’s Hang Seng Index soared 1.83 per cent to 19,219.78, South Korea’s Kospi climbed 0.31 per cent to 2,497.40, and China’s SSE Composite Index surged 2.54 per cent to 3,240.94.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng meanwhile said investors are awaiting clarity on whether new tariffs will be introduced on Chinese exports after US President-elect Donald Trump takes office next week.

“On the domestic front, we remain cautious, however, the benchmark index appears near oversold territory, encouraging continued accumulation, but external factors and elevated global market volatility weigh on sentiment.

“Hence, we foresee the FBM KLCI to trend within the 1,570-1,600 range for the remainder of the week,” he told Bernama.

Among heavyweights, Maybank jumped 12 sen to RM10.20, while CIMB shed 13 sen to RM7.97, Public Bank fell five sen to RM4.40, Tenaga dropped eight sen to RM13.82, and IHH slipped two sen to RM7.08.

As for the active stocks, TWL Holdings, Velocity Capital and EA Holdings were flat at three sen, eight sen and half-a-sen respectively, MYEG slid one sen to 93.5 sen while Harvest Miracle added one sen to 19.5 sen.

On the broader index, the FBM Emas Index decreased 62.39 points to 12,116.97, the FBM Emas Shariah Index fell 57.33 points to 12,053.53, and the FBMT 100 Index declined 63.01 points to 11,801.64.

The FBM 70 Index dropped 77.53 points to 18,230.90 while the FBM ACE Index increased 14.55 points to 5,260.58.

By sector, the Energy Index shed 2.77 points to 833.02, the Financial Services Index tumbled 70.33 points to 18,762.82, the Industrial Products and Services Index went down 1.40 points to 167.06, and the Plantation Index sank 43.59 points to 7,399.36.

The Main Market volume improved to 1.59 billion units worth RM2.43 billion against Monday’s 1.51 billion units worth RM2.29 billion.

Warrants turnover expanded to 1.38 billion units valued at RM139.27 million versus 856.91 million units valued at RM82.83 million previously.   

The ACE Market volume narrowed to 473.57 million units worth RM154.59 million from 484.47 million units worth RM167.11 million yesterday.

Consumer products and services counters accounted for 209.06 million shares traded on the Main Market, industrial products and services (333.61 million), construction (111.73 million), technology (288.51 million), SPAC (nil), financial services (81.02 million), property (240.65 million), plantation (31.03 million), REITs (12.30 million), closed/fund (33,000), energy (76.83 million), healthcare (54.53 million), telecommunications and media (29.32 million), transportation and logistics (19.24 million), utilities (106.94 million), and business trusts (4,800).

-- BERNAMA