Bursa Malaysia Bucks Regional Trend To Close Marginally Higher
By Danni Haizal Danial Donald
KUALA LUMPUR, Nov 4 (Bernama) -- Bursa Malaysia bucked the downbeat regional trend to close marginally higher on Tuesday, amid continued buying interest in selected heavyweights led by financial services counters.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.08 points, or 0.07 per cent, to 1,623.50 from Monday’s close of 1,622.42.
The benchmark index opened 1.20 points lower at 1,621.22, its lowest level for the day, and hit its highest level of 1,630.91 in the mid-morning session.
However, market breadth was negative with 905 losers thumping 321 gainers, while 511 counters were unchanged, 910 untraded, and 13 suspended.
Turnover rose to 3.59 billion units worth RM2.65 billion compared with 3.25 billion units worth RM2.48 billion on Monday.
IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said, while the financial services counters remained the main driver supporting the benchmark index, broader market participation was mixed as investors turned increasingly selective ahead of key global data releases.
“Globally, market volatility eased slightly as investors adjusted to the ongoing United States government shutdown, which continues to delay several key economic data releases, including the US Job Opening and Labour Turnover Survey (JOLTS) and potentially Friday’s Non-farm payrolls.
“Global sentiment will likely hinge on how these data shape expectations for the US Federal Reserve’s policy path and the broader risk environment,” he told Bernama.
Meanwhile, across the region, most Asian markets closed lower as investor sentiment remained cautious amid concerns that the rally in artificial intelligence and technology-related stocks may be running ahead of fundamentals.
“The sharp rise in tech valuations has raised fears of a potential bubble, leaving regional markets vulnerable to corrections in US tech shares, given their close correlation with global risk appetite,” he said.
Among other heavyweights, Maybank was unchanged at RM9.95, Public Bank gained two sen to RM4.26, CIMB Group added 13 sen to RM7.55, while Tenaga Nasional slipped four sen to RM13.30, and IHH Healthcare fell seven sen to RM8.28.
On the most active list, NexG lost seven sen to 28 sen, MMAG slid 4.5 sen to 14 sen, Tanco fell nine sen to 85 sen, V.S. Industry dipped two sen to 46.5 sen, while Genting Malaysia was flat at RM2.34.
Top gainers included Hong Leong Bank which garnered 32 sen to RM21.24, Fraser & Neave climbed 26 sen to RM28.18, Kuala Lumpur Kepong bagged 22 sen to RM21, PPB Group advanced 20 sen to RM11.50, and Hong Leong Financial put on 18 sen to RM17.22.
Among top losers, PJBumi tumbled 75 sen to RM1.77, Chin Teck Plantations was 56 sen lower at RM10.42, Malaysian Pacific Industries dipped 44 sen to RM30.56, Allianz Malaysia trimmed 28 sen to RM18.02, and Nestle decreased 20 sen to RM113.
On the index board, the FBMT 100 Index erased 17.51 points to 11,811.05, the FBM Emas Index fell 28.84 points to 12,054.16, and the FBM Emas Shariah Index declined 79.67 points to 12,055.43.
The FBM ACE Index dropped 95.68 points to 5,076.09 and the FBM Mid 70 Index lost 135.64 points to 16,890.00.
By sector, the Financial Services Index jumped 141.76 points to 18,451.42, while the Plantation Index slipped 27.38 points to 8,024.80, the Industrial Products and Services Index eased 2.48 points to 169.91, and the Energy Index shed 6.64 points to 766.75.
The Main Market volume increased to 1.91 billion units valued at RM2.28 billion from 1.70 billion units valued at RM2.20 billion on Monday.
Warrants turnover dipped to 1.02 billion units worth RM186.45 million compared with 1.05 billion units worth RM131.14 million previously.
The ACE Market volume expanded to 666.89 million units valued at RM180.34 million from 490.56 million units valued at RM144.10 million yesterday.
Consumer products and services counters accounted for 290.61 million shares traded on the Main Market, industrial products and services (368.89 million), construction (126.72 million), technology (486.34 million), financial services (66.38 million), property (268.42 million), plantation (27.70 million), real estate investment trusts (14.18 million), closed-end fund (209,300), energy (100 million), healthcare (68.10 million), telecommunications and media (37.18 million), transportation and logistics (24.99 million), utilities (25.81 million), and business trusts (385,200).
-- BERNAMA