By Siti Noor Afera Abu
KUALA LUMPUR, Jan 6 (Bernama) -- Bursa Malaysia’s benchmark index closed lower today, mirroring the weak regional performance as major markets worldwide experienced mostly negative trends.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 3.99 points or 0.24 per cent to 1,625.47 compared with Friday’s close of 1,629.46.
The index opened 0.28 of-a-point higher at 1,629.74 and moved between 1,623.64 and 1,631.71 throughout the day.
Market breadth was negative with losers outpacing gainers 575 to 505, while 489 counters remained unchanged, 784 untraded and 10 others suspended.
Turnover rose to 3.47 billion units valued at RM2.66 billion against Friday’s 3.70 billion units valued at RM2.87 billion.
UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said market sentiment was further dampened by concerns over China’s slowing economy, the outlook for US interest rates, and ongoing conflicts in Ukraine and the Middle East.
He said across Asia, caution prevailed, driven by fears that President-elect Donald Trump’s proposed policies, including significant increases in tariffs on imports from China and other countries, could hinder growth in a region heavily reliant on trade.
“Locally, these concerns were exacerbated by mixed performances in regional markets,” he told Bernama.
Trump is scheduled to be inaugurated as US President on Jan 20.
Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index failed to hold the 1,630 support level, hence, the consolidation will continue until new catalysts emerge.
“We reckon the index must overcome the key resistance level of 1,615 with determination and maintain its upward trend to reclaim bullish momentum. We anticipate the FBM KLCI to trend within the 1,620-1,640 range for the week,” he added.
Among the heavyweights, Maybank lost four sen to RM10.10, CIMB declined three sen to RM8.08, Tenaga Nasional slid two sen to RM14.58, and IHH Healthcare fell one sen to RM7.27, while Public Bank rose one sen to RM4.51.
For active stocks, Velesto and MYEG were one sen lower at 15.5 sen and 97.5 sen, respectively, Ekovest shed 1.5 sen to 37 sen. Velocity added one sen to 8.0 sen, and Top Glove gained three sen to RM1.36.
On the index board, the FBM Emas Index lost 12.48 points to 12,521.15, the FBM Emas Shariah Index slid 9.10 points to 12,537.39, and the FBMT 100 Index shed 14.18 points to 12,188.71.
The FBM ACE Index garnered 22.58 points to 5,495.14 and the FBM 70 Index increased 36.28 points to 18,903.62.
By sector, the Industrial Products and Services Index added 0.06 of-a-point to 174.51, the Energy Index climbed 3.97 points to 855.27, while the Financial Services Index shrank 48.72 points to 18,974.34, and the Plantation Index slipped 35.29 points to 7,563.22.
The Main Market volume advanced to 1.92 billion units worth RM2.38 billion against Friday’s 1.87 billion units worth RM2.56 billion.
Warrants turnover trimmed to 1.05 billion units valued at RM99.53 million versus 1.26 billion units valued at RM121.27 million previously.
The ACE Market volume declined to 505.90 million units worth RM174.65 million from 562.64 million units worth RM187.99 million last Friday.
Consumer products and services counters accounted for 213.93 million shares traded on the Main Market, industrial products and services (516.27 million), construction (198.22 million), technology (262.24 million), SPAC (nil), financial services (48.17 million), property (228.73 million), plantation (30.42 million), REITs (18.83 million), closed/fund (12,800), energy (148.20 million), healthcare (168.64 million), telecommunications and media (28.15 million), transportation and logistics (27.47 million), utilities (32.93 million), and business trusts (1.08 million).
-- BERNAMA
