Bursa Malaysia Ends Lower On Cautious Sentiment Ahead Of US FOMC Meeting Minutes

By Nurunnasihah Ahmad Rashid

KUALA LUMPUR, Feb 19 (Bernama) -- Bursa Malaysia pulled back from yesterday’s modest gains to close slightly lower on Wednesday, with weakness observed in more than half of the key index components, as investor sentiment remained uncertain ahead of the release of the US Federal Open Market Committee (FOMC) meeting minutes later tonight.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.96 points, or 0.25 per cent, to 1,580.88 compared with Tuesday’s close of 1,584.84.

The benchmark index opened 1.62 points lower at 1,583.22 and moved between 1,578.89 and 1,583.75 throughout the day.

On the broader market, decliners thumped gainers 749 to 265 while 481 counters were unchanged, 830 untraded and 10 suspended.

Turnover fell to 3.42 billion units worth RM2.65 billion from 3.61 billion units worth RM2.64 billion yesterday.

Apex Securities Bhd head of research Kenneth Leong said the pullback was mostly dragged down by consumer-related heavyweights.

"Investor sentiment remained cautious, with expectations for clarity on the future direction of the US interest rates. 

“Going forward, we expect volatility to remain unabated from external uncertainties particularly tariffs from the US,” he told Bernama.

Back home, Leong said the barrage of corporate earnings releases will remain on investors' radar, while economic wise, Malaysia's inflation data as well as the US consumer sentiment data, both to be released on Friday, will be in focus.

“Technically, the FBM KLCI has formed a bearish candle as the key index drifts further away from the 1,600 psychological level.

“Near-term resistance is located at 1,600 points, and support at 1,570 points,” he added.

Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the cautious sentiment in the Malaysian market mirrors the broader regional trends.

“Asian markets ended mixed, following record highs in the S&P 500 and European equities. Despite this strength, investor concerns persist over US President Donald Trump's latest tariff threats, which target key sectors including automotive, semiconductors and pharmaceuticals,” he said.

Regionally, Japan’s Nikkei 225 dropped 0.27 per cent to 39,164.61, Hong Kong’s Hang Seng shed 0.14 per cent to 2,671.52, while Singapore’s Straits Times Index rose 0.22 per cent to 3,934.04, China’s Shanghai Composite Index increased 0.81 per cent to 3,351.54, and South Korea’s Kospi jumped 1.70 per cent to 2,671.52. 

Among the heavyweight counters, Maybank decreased four sen to RM10.50, CIMB dipped 11 sen to RM8.29, Tenaga Nasional slipped eight sen to RM13.86, and IHH Healthcare decreased seven sen to RM7.21. In contrast, Public Bank added four sen to RM4.54.

Of the active counters, Hartalega slid 17 sen to RM2.44, Top Glove and MYEG fell three sen each to 97 sen and RM1.00 respectively, Ingenieur Gudang inched eased half-a-sen to 5.5 sen, and Kossan Rubber trimmed six sen to RM1.91.

On the index board, the FBM Emas Index fell 61.21 points to 11,943.01, the FBMT 100 Index was 50.54 points lower at 11,665.80, and the FBM Emas Shariah Index declined 74.29 points to 11,622.04.

The FBM 70 Index tumbled 159.61 points to 17,377.57 and the FBM ACE Index dipped 67.33 points to 5,007.16.

Sector-wise, the Financial Services Index erased 27.93 points to 19,346.15, the Industrial Products and Services Index shed 1.05 points to 162.05, the Plantation Index lost 7.68 points to 7,422.40, and the Energy Index trimmed 6.25 points to 785.53.

The Main Market volume expanded to 1.99 billion units worth RM2.39 billion from 1.53 billion units worth RM2.30 billion on Tuesday.

Warrants turnover dwindled to 978.73 million units worth RM102.18 million against 1.29 billion units worth RM124.48 million previously.

The ACE Market volume shrank to 449.68 million units valued at RM151.94 million versus 783.65 million units valued at RM218.96 million yesterday.

Consumer products and services counters accounted for 217.33 million shares traded on the Main Market, industrial products and services (659.42 million), construction (92.45 million), technology (214.98 million), SPAC (nil), financial services (59.63 million), property (162.45 million), plantation (26.88 million), REITs (18.10 million), closed/fund (32,800), energy (148.78 million), healthcare (306.38 million), telecommunications and media (32.03 million), transportation and logistics (26.47 million), utilities (26.13 million), and business trusts (262,600).

-- BERNAMA