KUALA LUMPUR, June 9 (Bernama) -- Bursa Malaysia ended lower on Tuesday as investors adopted a cautious stance amid external uncertainties, keeping a close watch on the upcoming United States inflation as well as developments surrounding the fragile Israel-Iran ceasefire. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) finished 4.02 points lower at 1,675.50 compared with Monday’s close of 1,679.52. The FBM KLCI opened 8.41 points higher at 1,687.93 earlier and traded between 1,675.04 and 1,687.93 throughout the session. Losers were slightly ahead of gainers in the broader market by 570 to 533, while 548 counters were unchanged, 1,024 untraded and 13 suspended. Turnover narrowed to 3.76 billion units worth RM2.90 billion from 3.48 billion units worth RM2.92 billion yesterday.
KUALA LUMPUR, June 9 (Bernama) -- Bursa Malaysia ended lower on Tuesday as investors adopted a cautious stance amid external uncertainties, keeping a close watch on the upcoming United States inflation as well as developments surrounding the fragile Israel-Iran ceasefire.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) finished 4.02 points lower at 1,675.50 compared with Monday’s close of 1,679.52.
The FBM KLCI opened 8.41 points higher at 1,687.93 earlier and traded between 1,675.04 and 1,687.93 throughout the session.
Losers were slightly ahead of gainers in the broader market by 570 to 533, while 548 counters were unchanged, 1,024 untraded and 13 suspended.
Turnover narrowed to 3.76 billion units worth RM2.90 billion from 3.48 billion units worth RM2.92 billion yesterday.
Berjaya Research Sdn Bhd head of research Kenneth Leong said the FBM KLCI edged lower on Tuesday, reversing all of its intraday gains and bucking the recovery trend seen across most regional peers, dragged down by selling pressure across glove and telecom heavyweights.
“Looking ahead, the FBM KLCI is attempting to stabilise after recent bouts of volatility, though the path to a sustainable recovery remains tentative.
“Near-term direction will be heavily influenced by external cues, with investors keeping a close watch on the upcoming US inflation print slated to be released tomorrow night, which is a key data point that could meaningfully shift market expectations around the Federal Reserve's rate trajectory,” he told Bernama.
Leong also said that looking from a technical aspect, the key index has formed a bearish candlestick, implying a persistent selling pressure with the immediate support located at 1,672 points and thereafter at 1,665 points.
“Meanwhile, the near-term resistance remains pegged at the 1,700 psychological level, followed by 1,707 points,” he added.
IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan added that renewed Pentagon scrutiny of several major Chinese companies had also influenced market sentiment.
“Market attention remains firmly focused on the US inflation, with a firmer inflation print reinforcing the higher-for-longer interest rate narrative and temper global risk appetite.
“While elevated oil prices are likely to keep headline inflation above four per cent in the near term, we expect inflationary pressures to gradually moderate towards year-end and into 2027, potentially providing a more supportive backdrop for risk assets,” he said.
Among the heavyweights, Maybank declined by eight sen to RM10.62, Public Bank down one sen to RM4.77, Tenaga Nasional erased six sen to RM14.14, CIMB was two sen easier at RM7.37 but IHH Healthcare earned 10 sen to RM8.70.
Among the active stocks, Hong Seng Consolidated inched up half a sen to 1.5 sen, Zetrix AI accumulated half a sen to 82.5 sen, TFP Solutions improved three sen to 8.5 sen but Tanco lost 32 sen to 80 sen.
As for the top gainers, Nestle surged RM2.44 to RM94.44, Malaysian Pacific Industries added RM1.30 to RM46.80, Ajinomoto advanced RM1.06 to RM15.48, Concrete Engineering jumped 91 sen to RM4.90, and Vitrox was 42 sen better at RM7.16.
Among the top losers, FACB was 19 sen lower at RM1.66, Petronas Gas lost 18 sen to RM17.32 and Sunway was 12 sen easier at RM5.13.
On the index board, the FBM Emas Index fell 18.12 points to 12,451.96, the FBM Top 100 Index notched down 23.50 points to 12,291.99, and the FBM Emas Shariah Index declined 7.66 points to 12,435.38.
The FBM Mid 70 Index dropped 8.62 points to 18,001.77, while the FBM ACE Index edged up 79.30 points to 4,727.68.
By sector, the Financial Services Index shrank 63.60 points to 19,496.88, the Industrial Products and Services Index eased 0.33 of a point to 196.68, and the Energy Index slid 3.31 points to 787.63, but the Plantation Index gained 17.04 points to 8,742.44.
Main Market volume expanded to 2.22 billion units valued at RM2.57 billion from 1.68 billion units valued at RM2.53 billion yesterday.
Warrants declined rose to 997.45 million units valued at RM155.37 million from 1.25 billion units valued at RM188.07 million previously.
ACE Market volume improved to 550.14 million worth RM171.11 million from 545.18 million units valued at RM194.35 million.
Consumer products and services counters accounted for 178.92 million shares traded on the Main Market, followed by industrial products and services (323.70 million), construction (98.31 million), technology (974.91 million), financial services (82.85 million), property (181.73 million), plantation (29.76 million), real estate investment trusts (16.12 million), closed-end funds (48,900), energy (105.01 million), healthcare (120.62 million), telecommunications and media (33.30 million), transportation and logistics (32.40 million), utilities (37.62 million), and business trusts (23,000).
Source: Bernama
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