KUALA LUMPUR, Jan 8 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) reversed yesterday’s gains to close lower on Wednesday as investors took profit amid the negative performance of regional peers. At 5 pm, the FBM KLCI fell 14.96 points or 0.92 per cent to end at its intraday low of 1,614.83 from Tuesday’s close of 1,629.79. The benchmark index opened 0.87 of-a-point easier at 1,628.92 and hit an intraday high of 1,631.15 during the early morning session. Decliners trounced advancers 827 to 285 on the broader market, while 497 counters were unchanged, 761 untraded, and 10 others suspended. Turnover narrowed to 3.59 billion units valued at RM3.06 billion against Tuesday’s 3.91 billion units valued at RM3.29 billion. UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan noted that major Asian indices followed Wall Street’s downbeat performance, driven by t...
KUALA LUMPUR, Jan 8 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) reversed yesterday’s gains to close lower on Wednesday as investors took profit amid the negative performance of regional peers.
At 5 pm, the FBM KLCI fell 14.96 points or 0.92 per cent to end at its intraday low of 1,614.83 from Tuesday’s close of 1,629.79.
The benchmark index opened 0.87 of-a-point easier at 1,628.92 and hit an intraday high of 1,631.15 during the early morning session.
Decliners trounced advancers 827 to 285 on the broader market, while 497 counters were unchanged, 761 untraded, and 10 others suspended.
Turnover narrowed to 3.59 billion units valued at RM3.06 billion against Tuesday’s 3.91 billion units valued at RM3.29 billion.
UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan noted that major Asian indices followed Wall Street’s downbeat performance, driven by the ripple effects of a broad-based selloff in US Treasuries.
He said investors remained cautious, with many refraining from taking significant positions ahead of key US employment data due later this week. Adding to the uncertainty is whether incoming President Donald Trump will shift towards a looser tariff policy.
“Markets are also factoring in the broader implications of Trump 2.0 policies following his inauguration on January 20, alongside persistent geopolitical risks, China's ongoing economic challenges, a weakened yuan, and policy moves by major central banks,” he told Bernama.
Mohd Sedek said on the home front, today’s trading session saw limited gains, with only two components in the FBM KLCI finishing in positive territory while the majority posted losses.
Sectoral indices on Bursa Malaysia reflected this broader weakness, as all sectors faced pressure from prevailing negative sentiment.
“However, there was notable demand for stocks poised to benefit from the Johor-Singapore Special Economic Zone, following the official signing yesterday. Encouragingly, total trading volume remained robust at 3.59 billion shares, signalling strong market participation which bodes well for liquidity,” he added.
Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng expects the FBM KLCI to remain range-bound between 1,615 and 1,635 for the rest of the week.
Among the heavyweights, Petronas Gas added six sen to RM17.82 and YTL Power gained one sen to RM4.51, while Tenaga Nasional and Press Metal were flat at RM14.32 and RM4.79 respectively.
Gamuda fell one sen to RM5.19 and MRDIY lost 3.0 sen to RM1.81.
For active stocks, ACE Market debutant Swift Energy increased 11.5 sen to 39.5 sen, UEM Sunrise went up four sen to RM1.14, while Dagang NeXchange and Bumi Armada slid one sen each to 41.5 sen and 67.5 sen respectively.
Both Velocity and Vinvest were flat at 8.0 sen and 7.5 sen respectively.
On the index board, the FBM Emas Index slid 116.50 points to 12,430.34, the FBM Emas Shariah Index tumbled 126.85 points to 12,427.03, the FBMT 100 Index plummeted 113.54 points to 12,105.57, the FBM 70 Index sank 181.35 points to 18,762.15, and the FBM ACE Index dropped 87.80 points to 5,378.17.
By sector, the Industrial Products and Services Index lost 1.85 points to 173.34, the Energy Index declined 6.86 points to 851.86, the Financial Services Index dipped 138.30 points to 18,898.38, and the Plantation Index slipped 52.87 points to 7,555.93.
The Main Market volume declined to 1.64 billion units worth RM2.65 billion against Tuesday’s 1.87 billion units worth RM2.96 billion.
Warrants turnover dipped to 1.17 billion units valued at RM121.60 million versus 1.55 billion units valued at RM158.81 million previously.
The ACE Market volume expanded to 777.83 million units worth RM287.48 million from 487.74 million units worth RM177.77 million yesterday.
Consumer products and services counters accounted for 205.95 million shares traded on the Main Market, industrial products and services (330.62 million), construction (171.87 million), technology (263.51 million), SPAC (nil), financial services (62.64 million), property (206.07 million), plantation (34.16 million), REITs (12.10 million), closed/fund (18,000), energy (109.53 million), healthcare (112.75 million), telecommunications and media (30.17 million), transportation and logistics (30.62 million), utilities (68.82 million), and business trusts (1.12 million).
Source: Bernama
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