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Market Daily Report: Bursa Malaysia Ends Lower On Profit-taking, Earthquake In Myanmar Shakes Investor Sentiment
KUALA LUMPUR, March 28 (Bernama) -- Bursa Malaysia closed lower today on profit-taking after a strong three-day rally, and investor sentiment was further shaken in the late afternoon session following news of an earthquake in Myanmar with tremors felt in neighbouring Thailand, said Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 1.44 per cent or 22.08 points to 1,513.65, its intraday low, from Thursday’s close of 1,535.73.
The benchmark index opened 4.16 points lower at 1,531.57 and hit an intraday high of 1,533.52 during the midday session.
On the broader market, decliners outpaced gainers 563 to 395, while 408 counters were unchanged, 1,106 untraded, and 133 suspended.
Turnover slipped to 2.25 billion units valued at RM2.13 billion from 2.52 billion units worth RM2.41 billion on Thursday.
Thong said that the FBM KLCI was also weighed down by profit-taking activities and broad-based regional selling.
“We believe investor sentiment was dampened during the late session following news of an earthquake in Myanmar and Thailand.
“While the earthquake news may trigger short-term selling, we believe it is largely a knee-jerk reaction. Investors should stay alert for any updates with potential economic implications.
“Regional indices also closed in negative territory, dragged by declines in automotive and technology stocks, as market sentiment took a hit after US President Donald Trump reaffirmed plans to implement a 25 per cent tariff on automotive imports starting next week,” he told Bernama.
Meanwhile, UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said the local market was driven by profit-taking following a strong rally in the previous sessions and in anticipation of the Hari Raya Aidilfitri public holidays next week.
“Consumer stocks led the declines, although the sector’s index remains positive on a Friday-to-Friday basis, reflecting underlying resilience despite the day’s losses,” he said.
Among the heavyweights, Public Bank fell 7.0 sen to RM4.42, CIMB Group dropped 13.0 sen to RM7.00, Tenaga Nasional lost 18.0 sen to RM13.38, and Maybank dipped 24.0 sen to RM10.12, while IHH Healthcare inched up 1.0 sen to RM6.92.
Among the actives, Main Market debutant HI Mobility jumped 11.0 sen to RM1.33, Permaju Industries added 1.0 sen to 4.0 sen, Pertama Digital edged up half-a-sen to 11.5 sen, while Sapura Energy was flat at 4.5 sen and NexG fell 1.0 sen to 24.5 sen.
On the index board, the FBM Emas Index slumped 148.15 points to 11,348.04, the FBMT 100 Index plummeted 154.43 points to 11,103.12, the FBM Emas Shariah Index decreased 123.74 points to 11,124.41, and the FBM 70 Index declined 196.74 points to 16,276.09.
Meanwhile, the FBM ACE Index rose 51.53 points to 4,808.92.
Sector-wise, the Financial Services Index tumbled 287.54 points to 18,384.21, the Industrial Products and Services Index eased 1.71 points to 153.27, the Energy Index lost 1.45 points to 757.98, and the Plantation Index shed 3.58 points to 7,437.73.
The Main Market volume expanded to 1.43 billion units worth RM1.97 billion from 1.20 billion units valued at RM2.14 billion on Thursday.
Warrants turnover dwindled to 523.75 million units valued at RM77.89 million against 1.03 billion units worth RM168.18 million yesterday.
The ACE Market volume improved to 287.90 million units worth RM84.44 million from 285.39 million units valued at RM101.15 million previously.
Consumer products and services counters accounted for 332.94 million shares traded on the Main Market, industrial products and services (205.93 million), construction (95.63 million), technology (171.13 million), SPAC (nil), financial services (112.81 million), property (93.05 million), plantation (22.17 million), REITs (11.97 million), closed/fund (7,200), energy (140.60 million), healthcare (67.26 million), telecommunications and media (45.56 million), transportation and logistics (61.23 million), utilities (75.75 million), and business trusts (9,200).
Bursa Malaysia and its subsidiaries will be closed on Monday and Tuesday (March 31 and April 1) in conjunction with the Hari Raya Aidilfitri public holidays, subject to the official announcement by the Keeper of the Rulers’ Seal.
Source: Bernama
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