BURSA MALAYSIA ENDS LOWER ON LATE SELLING, CAUTIOUS SENTIMENT AHEAD OF US TARIFF DECISION

By Abdul Hamid A Rahman

KUALA LUMPUR, March 24 (Bernama) -- Bursa Malaysia closed in negative territory today, erasing earlier gains as late selling pressure weighed on the market, while investors remained cautious ahead of upcoming tariff announcements by United States (US) President Donald Trump.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined by 1.63 points, or 0.11 per cent, to 1,503.82 from Friday’s close of 1,505.45. The benchmark index opened 1.05 points higher at 1,506.50.

On the broader market, decliners led gainers 601 to 310, while 435 counters were unchanged, 1,080 untraded and 19 suspended.

Turnover fell to 3.01 billion units worth RM1.92 billion from 3.43 billion units worth RM4.28 billion last Friday. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional markets closed mixed, with investor sentiment turning cautious ahead of potential US tariff announcements that could strain global trade.

“We believe the local market sentiment will remain mixed, prompting a cautious approach. Unless a clear breakout occurs, the FBM KLCI is expected to stay rangebound,” he told Bernama.

UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI closed little changed today, as market sentiment remained neutral amid ongoing geopolitical developments. 

“Market participants are primarily focused on the April 2 deadline for the next phase of US tariff announcements.

“On that date, the US plans to impose significant trade duties on all nations that have levied tariffs on US exports, aiming to create a more level playing field for American goods,” he said.

Among the heavyweights, CIMB Group gained 7 sen to RM6.92 and IHH Healthcare rose 5 sen to RM6.95. Maybank eased 2 sen to RM10.16, Public Bank slipped one sen to RM4.48, while Tenaga Nasional was flat at RM13.56.

Among the actives, Bina Puri rose half-a-sen to 33 sen, Saliran Group slipped one sen to 24.5 sen, V.S Industry dipped one sen to 83 sen, while Pertama Digital and EA Holdings were flat at 16 sen and half-a-sen respectively.

On the index board, the FBM Emas Index decreased 42.70 points to 11,263.09, the FBMT 100 Index declined 38.79 points to 11,022.59, the FBM Emas Shariah Index slipped 43.40 points to 10,983.77, the FBM 70 Index tumbled 163.42 points to 16,124.65, and the FBM ACE Index fell 82.13 points to 4,742.51.

Sector-wise, the Financial Services Index dropped 85.78 points to 18,354.05, the Industrial Products and Services Index eased 1.38 points to 152.05, the Energy Index declined 4.70 points to 747.10, and the Plantation Index shed 3.02 points to 7,446.91.

The Main Market volume shrunk to 1.03 billion units worth RM1.53 billion from 1.69 billion units worth RM3.91 billion on Friday.

Warrants turnover enhanced to 1.56 billion units worth RM263.35 million against 1.35 billion units worth RM195.94 million previously. 

The ACE Market volume surged to 409.06 million units worth RM118.37 million from 394.23 million units worth RM177.05 million last week.

Consumer products and services counters accounted for 201.62 million shares traded on the Main Market, industrial products and services (170.75 million), construction (82.73 million), technology (96.77 million), SPAC (nil), financial services (80.48 million), property (93.12 million), plantation (13.76 million), REITs (12.04 million), closed/fund (nil), energy (108.48 million), healthcare (83.84 million), telecommunications and media (43.87 million), transportation and logistics (13.76 million), utilities (30.72 million), and business trusts (46,800).

-- BERNAMA