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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. 
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Tesla Leads S&P 500 with Over 11% Gain

 Key Highlights:

  • Wall Street Performance: U.S. stocks saw a strong rally on Monday, fueled by President Trump's hints about potential tariff exemptions for some countries. The S&P 500 rose 1.76%, the Dow Jones Industrial Averageadded 1.42%, and the Nasdaq Composite surged 2.27%. Tesla led the charge with an 11.9% jump, driven by positive news regarding its advanced driver-assistance system rollout in China and FBI's commitment to addressing recent vandalism targeting its assets.

  • Bursa Malaysia: The FTSE Bursa Malaysia KLCI Index edged lower by 0.11% to 1,503.82 amid cautious trading. Investors are holding back due to the uncertainties surrounding the U.S. tariff deadlines. Despite this, there were some positive movements in individual stocks, with Nestle gaining 7.03% and Petronas Dagangandown 5.73%.

  • Economic Insights:

    • Matrade aims to boost Malaysia's export value by 5% to RM1.58 trillion in 2025, following success in surpassing its RM1.5 trillion target in 2024.

    • Bank Negara Malaysia (BNM) raised concerns about increasing supply shocks from geopolitical tensions, deglobalization, and climate change, urging preparedness for future economic disruptions.

    • Malaysia's office vacancy rates remain high, particularly in the Klang Valley, though the retail segmentis showing signs of improvement, with lower vacancy rates driven by increased foot traffic.

Stocks to Watch:

  • AWANTEC (5204.MY): The Malaysian government has resolved its dispute with AWANTEC's subsidiary, Prestariang Skin, agreeing to a RM201.477 million settlement related to the National Immigration Control System project.

  • CapitalA (5099.MY): The deadline for CapitalA’s sale of its RM6.8 billion short-haul aviation business to AirAsia X has been extended until May 30.

  • AME REIT (5307.MY): AME REIT is set to acquire three industrial properties for RM100.8 million from its sponsor AME Elite Consortium.

Market Sentiment: Today’s market sentiment remains mixed as global trade tensions and tariff uncertainty weigh on investor confidence. The cautious mood in Malaysia mirrors the uncertainty in the U.S. markets as traders await more details on potential tariff changes.

Outlook: Investors are keeping an eye on tariff talks, economic indicators, and corporate developments in Malaysia’s stock market, with some cautious optimism over ongoing IPOs and acquisitions.

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