BURSA MALAYSIA ENDS LOWER ON SELLING IN SELECTED HEAVYWEIGHTS

By Durratul Ain Ahmad Fuad

KUALA LUMPUR, Nov 20 (Bernama) -- Bursa Malaysia closed lower today dragged by continued selling in selected heavyweights, led by the financial services and utilities sectors, amid a mixed performance in regional peers. 

Maybank and Tenaga Nasional eased 12 sen each to RM10.12 and RM14.30 respectively, and Public Bank shed 3.0 sen to RM4.41. These stocks pulled down the composite index by a combined 4.64 points.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 4.16 points or 0.26 per cent to close at 1,598.18 from yesterday’s close of 1,602.34.

The benchmark index, which opened 0.54 of-a-point higher at 1,602.88, moved between 1,594.51 and 1,606.28 during the trading session.

The broader market was negative, with decliners leading gainers 546 to 457 while 527 counters remained unchanged, 936 untraded, and 14 suspended.

Turnover narrowed to 2.72 billion units valued at RM2.44 billion versus 2.83 billion units valued at RM2.08 billion yesterday.

UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said the FBM KLCI was marginally lower today as investors adopted a cautious stance amid heightened geopolitical risks.

“Notably, the index fell below the critical psychological threshold of 1,600, marking the second time this month -- and only the second instance since September -- that it has closed below this key level.

“This decline reflects growing concerns in the market following President Joe Biden's authorisation for Ukraine to utilise long-range US missiles against Russia and President Vladimir Putin's endorsement of a revised nuclear doctrine, both of which have escalated global tensions,” he told Bernama. 

Meanwhile, he said Asian markets traded mixed, but China's indices closed higher, buoyed by discussions at the Global Financial Leaders’ Investment Summit hosted by the Hong Kong Monetary Authority.

“Analysts believe the impact of Donald Trump-era protectionist policies may not be as severe as previously anticipated, with the summit offering a more tempered outlook on their potential repercussions.

“Nonetheless, with several key positions in Trump's cabinet yet to be finalised, the announcement of individuals lacking public administration experience could trigger further economic and market volatility,” he added. 

He said market attention will turn to NVIDIA’s third-quarter earnings report, with consensus estimates forecasting earnings per share of US$0.75.

“As a leader in artificial intelligence, NVIDIA’s results are expected to provide valuable insights into sectoral performance and broader market sentiment, potentially influencing trading patterns in the coming sessions.

“Consequently, NVIDIA’s third-quarter earnings could catalyse Malaysia’s data centre development, potentially driving the performance of data-related stocks listed on Bursa Malaysia,” he said.

Among other heavyweights, YTL Corporation was 4.0 sen lower at RM1.96, CIMB fell 3.0 sen to RM8.21, Nestle lost 94 sen to RM98, while CelcomDigi added 13 sen to RM3.53, and Sime gained 7.0 sen to RM2.30. 

As for the active stocks, Capital A climbed 4.0 sen to RM1.07, Cape EMS edged down 2.5 sen to 36 sen, while EA Holdings, Permaju Industries and Oversea Enterprise were flat at half-a-sen, 4.0 sen and 5.0 sen respectively. 

On the index board, the FBM Emas Shariah Index increased 30.07 points to 12,174.93, the FBM 70 Index climbed 58.50 points to 17,976.65, the FBM Emas Index fell 10.23 points to 12,165.88, the FBMT 100 Index edged down 10.58 points to 11,866.80, and the FBM ACE Index inched down 0.66 of-a-point to 5,189.60.

Sector-wise, the Industrial Products and Services Index perked up 0.51 of-a-point to 170.94, the Plantation Index bagged 10.16 points to 7,674.62, the Energy Index shaved 1.19 points to 828.91, and the Financial Services Index dipped 100.98 points to 19,023.24.

The Main Market volume decreased to 1.37 billion units worth RM2.19 billion against yesterday’s 1.47 billion units worth RM1.83 billion.

Warrants turnover dwindled to 849.63 million units valued at RM97.73 million from 928.20 million units valued at RM118.86 million previously.  

The ACE Market volume improved to 495.86 million units worth RM155.87 million compared with 427.03 million units worth RM138.67 million yesterday.

Consumer products and services counters accounted for 272.38 million shares traded on the Main Market, industrial products and services (363.76 million), construction (63.42 million), technology (168.74 million), SPAC (nil), financial services (84.34 million), property (148.35 million), plantation (33.32 million), REITs (15.31 million), closed/fund (18,000), energy (70.31 million), healthcare (55.67 million), telecommunications and media (35.02 million), transportation and logistics (26.63 million), utilities (33.30 million), and business trusts (99,500).

-- BERNAMA