FBM KLCI SLIPS 0.5 PCT, WEIGHED BY SELLING IN SELECTED HEAVYWEIGHTS

KUALA LUMPUR, April 3 (Bernama) -- Bursa Malaysia ended lower today, with the benchmark index declining 0.5 per cent, weighed down by selected heavyweights led by Press Metal, IHH Healthcare, and Tenaga Nasional.

Press Metal shed 16 sen to RM4.87, IHH Healthcare dipped 14 sen to RM6.75, and TNB slipped 18 sen to RM13.58. These stocks resulted in a 6.12-point decline in the benchmark index. 

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 7.61 points to 1,518.91 versus Wednesday’s close of 1,526.52.

The benchmark index opened 9.22 points lower at 1,517.30 and fluctuated between 1,512.32 and 1,524.41 throughout the day.

 In the broader market, losers thumped gainers 548 to 357, while 448 counters were unchanged, 994 untraded and eight suspended.  

Turnover rose to 2.51 billion units valued at RM1.81 billion against Wednesday’s 2.37 billion units valued at RM2.03 billion.   

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the 24-per cent US reciprocal tariff on Malaysia added pressure to its export-driven economy, particularly for the electronics and manufacturing sectors.

“The FBM KLCI remains well supported, but investor sentiment has become cautious due to foreign outflows. In comparison, other Asia-Pacific countries, such as Cambodia and Vietnam, which face even higher tariffs, are experiencing larger relative shocks," he added.

Thong noted that bargain-hunting would likely emerge soon after today’s sell-off, as countries with lower tariffs and strong economic fundamentals, such as Malaysia, are better positioned to weather the storm.

“As such, we anticipate the benchmark index to trend within the range of 1,510-1,530 towards the weekend,” he added. 

Meanwhile, the Technology Index eased 0.80 of-a-point to 48.52. 

According to news reports, Malaysia Semiconductor Industry Association president Datuk Wong Siew Hai has cautioned that Malaysia's semiconductor companies are not out of the woods, despite being exempted from the latest broad-ranging tariffs imposed by the US.

On the local bourse, heavyweights Public Bank added one sen to RM4.40, MISC jumped 17 sen to RM7.31, RHB Bank was flat at RM6.90, Maybank dropped six sen to RM10.26, TNB shed 18 sen to RM13.58, CIMB eased one sen to RM7.13, and Petronas Gas trimmed 10 sen to RM16.78. 

Among the actives, Top Glove advanced four sen to 84.5 sen, Supermax increased six sen to 77.5 sen, T7 edged up half-a-sen to 32.5 sen, Sapura Energy inched down half-a-sen to 4.5 sen, and V.S. Industry eased 2.5 sen to 82 sen. 

On the index board, the FBM Emas Index dropped 52.76 points to 11,337.56, the FBMT 100 Index fell 50.63 points to 11,108.53, the FBM Emas Shariah Index shaved 66.52 points to 11,068.45, the FBM 70 Index declined 53.76 points to 16,152.65, and the FBM ACE Index slid 57.75 points to 4,708.31.  

Sector-wise, the Financial Services Index sank 73.39 points to 18,498.91, the Industrial Products and Services Index eased 2.10 points to 149.79, the Energy Index dipped 9.91 points to 735.14, and the Plantation Index shed 2.58 points to 7,405.53.  

The Main Market volume increased to 1.40 billion units worth RM1.61 billion versus 1.22 billion units worth RM1.83 billion on Wednesday.  

Warrants turnover dwindled to 836.86 million units worth RM94.28 million from 921.35 million units worth RM131.84 million yesterday.   

The ACE Market volume improved to 275.91 million units worth RM105.92 million from 225.77 million units worth RM74.92 million previously.  

Consumer products and services counters accounted for 181.59 million shares traded on the Main Market, industrial products and services (253.64 million), construction (72.37 million), technology (161.48 million), SPAC (nil), financial services (86.74 million), property (94.08 million), plantation (11.68 million), REITs (8.07 million), closed/fund (11,500), energy (201.62 million), healthcare (215.78 million), telecommunications and media (33.39 million), transportation and logistics (33.53 million), utilities (46.52 million), and business trusts (41,400).

-- BERNAMA