Bursa Malaysia Ends Morning Session Lower
KUALA LUMPUR, Feb 18 (Bernama) -- Bursa Malaysia finished the morning session lower as selling was seen in selected heavyweights led by Malayan Banking Bhd and Petronas Chemicals Group Bhd.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 1.08 points to 1,581.68 from Monday’s close of 1,582.76.
The benchmark index, which opened 2.54 points lower at 1,580.22, subsequently moved between 1,575.68 and 1,584.01 during the session.
On the broader market, decliners led gainers 439 to 362 while 457 counters were unchanged, 1,067 untraded and 10 suspended.
Turnover stood at 1.88 billion units worth RM983.83 million.
Hong Leong Investment Bank Bhd said Asian markets were mostly higher, buoyed by optimism surrounding Chinese President Xi Jinping’s meeting with prominent entrepreneurs and the potential impact of DeepSeek’s artificial intelligence (AI) model.
These developments sparked hopes that the authorities may adopt a more business-friendly approach to stimulate the economy, despite ongoing concerns over rising United States (US) trade tariffs and the possibility of escalating trade wars, it said in a note today.
Meanwhile, Malacca Securities Sdn Bhd said global markets will be watching the peace talks between the US and Russia on ending the war in Ukraine, which will be held in Saudi Arabia this week and attended by top officials from both countries.
Also, retail giants Walmart and Alibaba are set to announce their results this week, it said.
“On the China and Hong Kong front, we believe the symposium, attended by most of China’s business leaders, will boost sentiment for China and Hong Kong exchanges,” it added.
The securities firm noted that Malaysia recorded a current account expansion in 2024, thanks to robust exports and a resurgence in tourism activities.
“We believe the tourism sector will remain strong ahead of Visit Malaysia Year 2026, benefiting counters related to aviation, hotels, malls, theme parks and the digital economy.
“Meanwhile, stronger exports, underpinned by a stronger greenback, ongoing US-China trade tensions, and sustained demand in AI, will benefit export-oriented sectors like technology and gloves,” it added.
Among the heavyweight counters, Maybank lost 10 sen to RM10.46, while CIMB bagged six sen to RM8.36, Public Bank edged up one sen to RM4.48, and Tenaga Nasional and IHH Healthcare increased two sen each to RM13.94 and RM7.27, respectively.
ACE Market debutant TechStore led the active counters, gaining three sen to 23 sen, followed by MYEG which added two sen to RM1.03 and Dialog Group which improved six sen to RM1.62.
In contrast, Harvest Miracle and RichTech Digital eased one sen each to 14 sen and 31 sen, respectively.
On the index board, the FBM Emas Index advanced 2.71 points to 12,047.83, the FBMT 100 Index climbed 3.08 points to 11,755.04, the FBM Emas Shariah Index gained 6.84 points to 11,780.67 and the FBM 70 Index rose 48.29 points to 17,839.96. However, the FBM ACE Index dropped 26.76 points to 5,102.19.
Sector-wise, the Plantation Index trimmed 31.64 points to 7,401.30, the Industrial Products and Services Index shed 0.21 of-a-point to 163.71, the Financial Services Index decreased 9.52 points to 19,279.96 and the Energy Index shaved 2.51 points to 795.78.
-- BERNAMA