KUALA LUMPUR, May 21 (Bernama) -- Bursa Malaysia ended at its intraday low on Thursday as investor sentiment remained cautious amid ongoing foreign outflows, although the recent weakness may present bargain-hunting opportunities in fundamentally sound blue-chip counters. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 9.33 points, or 0.54 per cent, to 1,708.36, from yesterday’s close of 1,717.69. The benchmark index, which opened 3.74 points higher at 1,721.43, hit an intraday high of 1,722.50 in early trade before losing momentum for the rest of the day. Market breadth was negative, with losers outpacing gainers 656 to 508, while 565 counters were unchanged, 989 untraded and 32 suspended. Turnover fell to 3.49 billion units worth RM3.70 billion compared with 4.15 billion units worth RM4.29 billion on Wednesday.
KUALA LUMPUR, May 21 (Bernama) -- Bursa Malaysia ended at its intraday low on Thursday as investor sentiment remained cautious amid ongoing foreign outflows, although the recent weakness may present bargain-hunting opportunities in fundamentally sound blue-chip counters.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 9.33 points, or 0.54 per cent, to 1,708.36, from yesterday’s close of 1,717.69.
The benchmark index, which opened 3.74 points higher at 1,721.43, hit an intraday high of 1,722.50 in early trade before losing momentum for the rest of the day.
Market breadth was negative, with losers outpacing gainers 656 to 508, while 565 counters were unchanged, 989 untraded and 32 suspended.
Turnover fell to 3.49 billion units worth RM3.70 billion compared with 4.15 billion units worth RM4.29 billion on Wednesday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI closed in negative territory as foreign funds continued to trim positions in the local market.
“Across the region, key indices were mixed, although technology-driven markets such as Japan, South Korea and Taiwan advanced strongly following better-than-expected earnings and encouraging guidance from Nvidia, which boosted confidence in long-term artificial intelligence (AI)-related spending.
“Despite the positive external lead, emerging markets continued to face selling pressure,” he told Bernama.
Thong said market sentiment is expected to remain mixed going forward as investors continue to monitor foreign fund flows, developments surrounding global interest rates, and geopolitical uncertainties.
“Nevertheless, support from domestic institutions and improving sentiment towards technology-related sectors may help cushion downside risks in the near term.
“We expect the FBM KLCI to remain range-bound between 1,700 and 1,720 towards the weekend,” he added.
Among heavyweights, Maybank eased two sen to RM11.04, CIMB edged down one sen to RM7.75, IHH Healthcare was seven sen lower at RM8.92, while Public Bank and Tenaga Nasional were flat at RM4.77 and RM14.46.
On the most active list, ACE Market debutant EI Power rose seven sen to 55 sen, SkyeChip edged up 12 sen to RM2.33, GIIB put on 4.5 sen to 39.5 sen, Zetrix AI was one sen lower at 82 sen, and Bumi Armada shed 3.5 sen to 33.5 sen.
Among top gainers, Malaysian Pacific Industries advanced RM2.00 to RM46.20, Nestle gained RM1.00 to RM96.00, Hong Leong Bank rose 46 sen to RM22.20, UWC jumped 44 sen to RM5.83, and Ajinomoto climbed 32 sen to RM13.26.
As for top losers, Kuala Lumpur Kepong lost 44 sen to RM20.22, Allianz Malaysia gave up 40 sen to RM21.18, Petronas Gas fell 28 sen to RM16.92, Petronas Chemicals shed 25 sen to RM5.45, and Batu Kawan slid 28 sen to RM20.60.
On the index board, the FBM Emas Index slipped 47.62 points to 12,669.88, the FBMT 100 Index fell 47.13 points to 12,511.48, the FBM Mid 70 Index improved 21.88 points to 18,230.82, the FBM Emas Shariah Index dipped 75.13 points to 12,568.58, and the FBM ACE Index added 20.28 points to 4,678.24.
Sector-wise, the Plantation Index tumbled 103.27 points to 8,557.40, the Industrial Products and Services Index slid 1.87 points to 197.42, the Energy Index weakened 15.58 points to 776.91, and the Financial Services Index rose 10.56 points to 20,022.97.
The Main Market volume slipped to 1.84 billion units valued at RM3.31 billion from 2.32 billion units valued at RM3.93 billion on Wednesday.
Warrants turnover fell to 964.66 million units worth RM118.14 million from 1.15 billion units worth RM140.12 million yesterday.
The ACE Market volume decreased to 679.66 million units valued at RM271.62 million from 685.47 million units valued at RM223.24 million previously.
Consumer products and services counters accounted for 201.28 million shares traded on the Main Market, industrial products and services (319.44 million), construction (152.84 million), technology (361.55 million), financial services (82.02 million), property (235.22 million), plantation (31.76 million), real estate investment trusts (8.95 million), closed-end fund (15,500), energy (202.20 million), healthcare (110.75 million), telecommunications and media (58.92 million), transportation and logistics (32.12 million), utilities (46.38 million), and business trusts (51,500).
Source: Bernama
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