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Market Daily Report: Bursa Malaysia Closes Lower Amid Weak Global Risk Sentiment

KUALA LUMPUR, May 20 (Bernama) -- Bursa Malaysia ended lower on Wednesday, as weakening global risk sentiment weighed on investor confidence, an economist said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 9.58 points, or 0.56 per cent, to 1,717.69, from Tuesday’s close of 1,727.27. The benchmark index, which opened 0.33 of-a-point lower at 1,726.94, traded between 1,716.47 and 1,727.50 throughout the session. Market breadth was negative, with losers outpacing gainers 840 to 366, while 518 counters were unchanged, 993 untraded and 15 suspended. Turnover rose to 4.15 billion units worth RM4.29 billion, compared with 3.36 billion units worth RM3.24 billion on Tuesday.
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KLCI Extends Slide as Yields Rise; SkyeChip Lists After Strong IPO Demand


Malaysia’s equity market remained under pressure as rising global yields and geopolitical risks weighed on sentiment, while standout corporate developments, including SkyeChip’s strong IPO listing, drew investor attention.

Global Pressure Weighs on Local Sentiment

Wall Street closed lower overnight:

  • S&P 500 -0.67%
  • Nasdaq Composite -0.84%
  • Dow Jones Industrial Average -0.65%

The decline was driven by rising bond yields, with the US 10-year yield near 4.7%, pressuring high-growth technology stocks.

KLCI Extends Losing Streak

The FTSE Bursa Malaysia KLCI Index slipped 0.03%, marking its fifth consecutive session of losses.

Market sentiment remained cautious amid:

  • Iran war-driven volatility
  • Earnings season uncertainty
  • Ongoing portfolio repositioning

Malaysia Auto Sales Show Strong Recovery

Malaysia’s automotive sector delivered a positive update:

  • April Total Industry Volume (TIV): 72,113 units (+14% MoM)

The growth reflects post-festive production normalisation and improving demand momentum.

Trading Halts Signal Potential Catalysts

Several key counters were suspended pending announcements:

  • MKH 
  • MKH Oil Palm 
  • Batu Kawan

Such suspensions typically indicate material corporate developments ahead.

SkyeChip Lists with Strong Investor Demand

SkyeChip listed after raising RM352 million, with its IPO:

  • Oversubscribed 95x — strongest demand since 2010
  • Reflects strong investor interest in semiconductor and tech exposure

Corporate Earnings and Fundraising in Focus

Mixed results across corporates:

  • Petronas Gas: Profit declined YoY
  • Velesto: Earnings fell 47%
  • Malayan Flour Mills: Profit +28% YoY
  • Maxis: Raised RM1 billion via sukuk

Meanwhile, Capital A exited PN17 status, marking a turnaround milestone.

Investor Takeaways

  • KLCI remains under pressure, tracking global yield-driven volatility.
  • US yields near 4.7% continue to weigh on equities.
  • SkyeChip’s strong IPO demand highlights interest in tech stocks.
  • Trading halts signal potential upcoming corporate catalysts.
  • Mixed earnings reinforce the need for selective stock picking.
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