KUALA LUMPUR, Jan 8 (Bernama) -- Bursa Malaysia’s benchmark index closed lower on Thursday amid profit-taking in big-cap stocks, as investors shifted their focus to smaller-cap counters against the backdrop of weaker regional market performance. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.26 points or 0.43 per cent to 1,669.57 from Wednesday’s close of 1,676.83. The FBM KLCI opened 2.61 points lower at 1,674.22 and moved between 1,666.34 and 1,674.44 throughout the day. On the broader market, gainers led losers by 579 to 489, while 565 counters were unchanged, 1,016 untraded, and 12 suspended. Turnover was slightly higher at 2.79 billion units worth RM2.84 billion from Wednesday’s 2.73 billion units worth RM2.76 billion.
KUALA LUMPUR, Jan 8 (Bernama) -- Bursa Malaysia’s benchmark index closed lower on Thursday amid profit-taking in big-cap stocks, as investors shifted their focus to smaller-cap counters against the backdrop of weaker regional market performance.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.26 points or 0.43 per cent to 1,669.57 from Wednesday’s close of 1,676.83.
The FBM KLCI opened 2.61 points lower at 1,674.22 and moved between 1,666.34 and 1,674.44 throughout the day.
On the broader market, gainers led losers by 579 to 489, while 565 counters were unchanged, 1,016 untraded, and 12 suspended.
Turnover was slightly higher at 2.79 billion units worth RM2.84 billion from Wednesday’s 2.73 billion units worth RM2.76 billion.
SPI Asset Management managing partner Stephen Innes said Bursa Malaysia was trading slightly softer today as investors remained cautious following mixed US economic data overnight, which left markets uncertain about the timing and pace of potential US Federal Reserve (Fed) rate cuts.
He added that while the headline US figures were inconclusive, details from the second-tier labour data were not weak enough to justify aggressive monetary easing, keeping global risk appetite in check.
“In this environment, the FBM KLCI remains range-bound, with support at 1,655–1,660 and resistance at 1,675–1,680. Until there is clearer confirmation on the Fed’s policy outlook, local markets are likely to remain selective rather than directional.
“Global markets are also awaiting the release of the US nonfarm payrolls report on Friday,” he told Bernama.
Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng viewed today’s profit-taking as a healthy correction, as it allowed the market to digest the recent uptrend and consolidate gains.
“At the same time, investors have shifted their attention to smaller-cap stocks with strong fundamentals that remain undervalued, creating attractive trading opportunities for retail investors in a more selective market environment.
“As such, we anticipate the FBM KLCI to trend within the range of 1,660-1,680 towards the weekend,” he added.
Of the heavyweight counters, Telekom Malaysia jumped 12 sen to RM7.92, CIMB and Sunway were flat at RM8.06 and RM5.58, respectively, while Maybank and Public Bank eased four sen each to RM10.64 and RM4.49.
On the most active list, Dagang NeXchange advanced 3.5 sen to 36 sen, Tanco increased three sen to RM1.23, Bina Puri gained half-a-sen to 30 sen, UEM Sunrise rose five sen to 66 sen, Zetrix AI was flat at 81.5 sen, and MMAG trimmed half-a-sen to seven sen.
Among the top gainers, United Plantations jumped RM1.68 to RM33.12, Allianz Malaysia climbed 80 sen to RM21.0, while Malaysian Pacific Industries and Hong Leong Financial Group firmed 40 sen each to RM32.40 and RM19.36, respectively.
As for the top decliners, Nestle dipped RM1 to RM121.0, Fraser & Neave sank 38 sen to RM35.70, Bintulu Port went down 20 sen to RM5.30, Petronas Gas slid 18 sen to RM18.20, and Petronas Chemicals shed 16 sen to RM3.20.
On the index board, the FBM Emas Index decreased 10.68 points to 12,349.42, the FBM Top 100 Index slipped 15.20 points to 12,136.75, and the FBM Emas Shariah Index perked up 0.29 of-a-point to 12,167.04.
The FBM Mid 70 Index increased 146.38 points to 17,319.58 and the FBM ACE Index climbed 17.90 points to 4,982.21.
Sector-wise, the Financial Services Index gave up 34.46 points to 19,739.73, the Energy Index edged up 0.66 of-a-point to 770.31, the Plantation Index garnered 39.76 points to 8,437.70, and the Industrial Products and Services Index eased 0.56 of-a-point to 171.90.
Source: Bernama
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