Bursa Malaysia Ends Lower As Profit-Taking Persists

By Zufazlin Baharuddin

KUALA LUMPUR, Jan 24 (Bernama) -- Bursa Malaysia ended lower as profit-taking activities persisted for a second consecutive day as investors positioned themselves ahead of next week’s shortened trading schedule, said an analyst.

At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.47 points, or 0.22 per cent, to 1,573.73 from yesterday’s close of 1,577.20.

The index opened 0.30 of-a-point higher at 1,577.50 and moved between 1,566.84 and 1,577.50 duing the day.

Market breadth was negative with losers thumping gainers 654 to 314, while 491 counters were unchanged, 962 untraded and 133 suspended.

Turnover was lower at 3.0 billion units valued at RM3.06 billion from Thursday’s 3.23 billion units valued at RM2.74 billion.

UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said key economic data from China, including the manufacturing PMI and medium-term lending facility (MLF) figures, are set to be released on Monday, alongside the first Federal Open Market Committee (FOMC) meeting of 2025, scheduled for Jan 28-29.

“Consequently, we observe investors moving to lock in profits ahead of these pivotal events,” he told Bernama.

He added that today’s decision by the Bank of Japan (BOJ) to raise its benchmark interest rate from 0.25 per cent to 0.5 per cent has influenced regional sentiment.

“However, the impact on equity markets has been relatively subdued compared to the previous rate hike in August,” he said.

Meanwhile Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI ended lower today, dragged down by heavy selling pressure in YTL counters.

YTL Corp shed 26 sen to RM2.12 and YTL Power International decreased 44 sen to RM3.61, dragging the composite index down by a combined 11.04 points.

Among the heavyweights, Public Bank slid one sen to RM4.33, Tenaga Nasional inched down four sen to RM13.76, while Maybank and CIMB were climbed four sen each to RM10.40 and RM8.01, and IHH Healthcare rose two sen to RM7.19.

As for the active stocks, Oriental Kopi Holdings gave up 2.5 sen to 85 sen, Gamuda notched down 10 sen to RM4.19, EA Holdings edged down half-a-sen to half-a-sen, CBH Engineering Holding declined 1.5 sen to 35.5 sen while Borneo Oil was unchanged at one sen.

On the broader market, the FBM Emas Index fell by 47.18 points to 12,035.59, the FBMT 100 Index lost 43.28 points to 11,725.52, the FBM Emas Shariah Index slipped 35.22 points to 11,914.88, the FBM ACE Index fell 14.83 points to 5,210.53, and the FBM 70 Index dropped 131.26 points to 17,906.35.

Sector-wise, the Energy Index depreciated 4.58 points to 838.06, the Industrial Products and Services Index edged down 0.23 of-a-point to 168.69, while the Financial Services Index increased 34.15 points to 18,896.49 and the Plantation Index was 12.77 points higher to 7,419.45.

The Main Market volume surged to 1.36 billion units worth RM2.72 billion against Thursday’s 1.07 billion units worth RM1.80 billion.

Warrants turnover climbed to 1.10 billion units valued at RM108.61 million versus 801.86 million units valued at RM88.14 million previously.   

The ACE Market volume trimmed to 538.96 million units worth RM228.46 million from 1.36 billion units worth RM852.76 million yesterday.

Consumer products and services counters accounted for 145.06 million shares traded on the Main Market, industrial products and services (236.06 million), construction (133.53 million), technology (143.08 million), SPAC (nil), financial services (64.28 million), property (161.67 million), plantation (21.18 million), REITs (13.19 million), closed/fund (55,700), energy (143,56 million), healthcare (54,88 million), telecommunications and media (23.34 million), transportation and logistics (45.78 million), utilities (177.74 million), and business trusts (20,700).

-- BERNAMA