Bursa Malaysia Snaps Four-day Winning Streak On Profit-taking

By Abdul Hamid A Rahman

KUALA LUMPUR, April 22 (Bernama) -- Bursa Malaysia snapped a four-day winning streak to close marginally lower today, as profit-taking followed mixed performances across regional markets.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 4.94 points, or 0.29 per cent, to 1,710.39 from Tuesday’s close of 1,715.33.

The benchmark index opened 2.67 points higher at 1,718.00, and moved between 1,705.11 and 1,720.46 during the day.  

In the broader market, losers led gainers 584 to 565, while 596 counters were unchanged, 1,014 untraded and 35 suspended.

Turnover declined to 3.19 billion units valued at RM2.69 billion from 3.45 billion units valued at RM3.18 billion on Tuesday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said today’s pullback is viewed as an opportunity for selective bargain-hunting in blue-chip stocks at more attractive levels.

“However, market participation is expected to remain measured as investors stay vigilant amid ongoing geopolitical uncertainties,” he told Bernama.

Meanwhile, IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said Bursa Malaysia’s benchmark index managed to hold above the key psychological 1,700 level, indicating that underlying support remains intact despite softer sentiment.

“The lack of clarity has led markets to price in a prolonged standoff rather than a stable resolution, keeping risk premiums elevated and prompting a more defensive stance among investors domestically,” he told Bernama.

Among the heavyweights, Maybank fell 14 sen to RM11.22, Public Bank slipped four sen to RM4.76, Tenaga Nasional eased eight sen to RM14.52, CIMB Group declined six sen to RM7.74, while IHH Healthcare added seven sen to RM8.81.

On the most active list, Zetrix AI dropped 3.5 sen to 86 sen, AirAsia X slid 10 sen to RM1.30, NexG gained one sen to 31.5 sen, Borneo Oil was flat at half-a-sen, while Perdana Petroleum rose two sen to 18.5 sen.

Among the top gainers, Nestle climbed 72 sen to RM98.74, Petronas Dagangan increased 60 sen to RM20.60, Hong Leong Industries advanced 22 sen to RM17.58, UWC jumped 19 sen to RM4.97, while Batu Kawan added 18 sen to RM21.18.

As for the top losers, Malaysian Pacific Industries fell 96 sen to RM35.64, Hong Leong Bank dipped 34 sen to RM22.62, Fraser & Neave Holdings decreased 28 sen to RM30.92, Hong Leong Financial Group shed 20 sen to RM19.14, and Southern Cable slid 12 sen to RM1.98.

On the index board, the FBM Top 100 Index declined 29.72 points to 12,453.59, the FBM Emas Index fell 30.06 points to 12,618.02, the FBM Mid 70 Index trimmed 15.77 points to 17,835.27, the FBM Emas Shariah Index perked up 9.06 points to 12,481.19, and the FBM ACE Index edged up 1.04 points to 4,621.55.

By sector, the Financial Services Index tumbled 171.61 points to 20,152.95, the Industrial Products and Services Index ticked up 0.71 of-a-point to 185.88, the Energy Index climbed 13.70 points to 822.04, and the Plantation Index surged 74.75 points to 8,911.63.

The Main Market volume slipped to 1.93 billion units valued at RM2.42 billion from 2.14 billion units valued at RM2.90 billion on Tuesday.   

Warrants turnover dwindled to 872.24 million units worth RM119.92 million from 930.89 million units worth RM117.52 million previously.  

The ACE Market volume expanded to 392.46 million units valued at RM149.79 million compared to 375.27 million units valued at RM163.50 million yesterday.

Consumer products and services counters accounted for 311.60 million shares traded on the Main Market, industrial products and services (342.63 million), construction (159.31 million), technology (423.71 million), financial services (54.77 million), property (130.48 million), plantation (58.38 million), real estate investment trusts (14.30 million), closed-end fund (13,800), energy (199.81 million), healthcare (107.28 million), telecommunications and media (50.08 million), transportation and logistics (47.89 million), utilities (34.11 million), and business trusts (144,500).

-- BERNAMA