FBM KLCI ENDS ALMOST FLAT ON CAUTIOUS SENTIMENT

By Anas Abu Hassan

KUALA LUMPUR, April 8 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) erased earlier gains to close marginally lower on Tuesday as mild bargain hunting activities were offset by cautious mode over ongoing global uncertainties.

At 5 pm, the benchmark index slipped 0.24 of-a-point, or 0.02 per cent, to 1,443.56 from yesterday’s close of 1,443.80.

The benchmark index opened 7.63 points firmer at 1,451.43 and climbed to as high as 1,454.58 in early trade before retreating to a low of 1,440.89 towards the end of the morning trading session. It then moved in a yo-yo mode during the afternoon session.

In contrast, the broader market was positive with gainers outpacing decliners 669 to 367, while 419 counters were unchanged, 894 counters untraded, and nine others suspended. 

Turnover dwindled to 3.32 billion units valued at RM2.83 billion against 5.35 billion units valued at RM4.67 billion on Monday.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the barometer index ended flattish due to mixed performance of blue chips although bargain hunting was observed in healthcare, construction, and consumer stocks.

"We prefer to stay cautious, however, the current cheap valuation of FBM KLCI presents an opportunity for long-term investors who have strong holding power to buy on dips. Meanwhile, short-term players should consider pausing until momentum improves and risk-reward dynamics become more favourable," he told Bernama.  

Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan opined that the cautious return of investors indicates a tentative belief that the worst of the sell-off may be behind, although prevailing macroeconomic headwinds continue to temper optimism.

"Investors are approaching the market selectively, with measured confidence, as they await clearer signals on President Donald Trump’s evolving trade policy.

"The mood, though subdued, reflects a quiet resilience, as market participants navigate a complex risk environment with steady resolve," he added.

For heavyweights, Maybank fell 12 sen to RM9.88, Public Bank gained one sen to RM4.22, Tenaga Nasional added 10 sen to RM13.22, CIMB picked up six sen to RM6.68, IHH Healthcare rose two sen to RM6.73, and Petronas Gas lost 58 sen to RM15.74.

Among the actives, MYEG advanced six sen to 77 sen, Revenue and Inari Amertron gained one sen each to 9.5 sen and RM1.55 respectively, Top Glove put on five sen to 82 sen, and Tanco gained 1.5 sen to 80 sen.

On the index board, the FBM Emas Index rose 32.19 points to 10,650.75, the FBMT 100 Index improved 18.70 points to 10,453.01, and the FBM Emas Shariah Index climbed 52.14 points to 10,353.91.

The FBM 70 Index expanded 108.69 points to 14,784.56 and the FBM ACE Index soared 61.18 points to 4,313.90.

Sector-wise, the Financial Services Index slipped 13.98 points to 17,595.29, the Industrial Products and Services Index added 1.56 points to 137.05, the Energy Index perked up 2.06 points to 644.44, while the Plantation Index dropped 125.04 points to 6,973.76.

The Main Market volume declined to 1.81 billion units worth RM2.63 billion from 3.01 billion units worth RM4.37 billion on Monday.

Warrants turnover declined to 1.18 billion units valued at RM91.02 million against 1.68 billion units valued at RM114.13 million yesterday.   

The ACE Market volume tumbled to 336.66 million units worth RM108.05 million from 648.79 million units worth RM181.09 million previously.  

Consumer products and services counters accounted for 221.36 million shares traded on the Main Market, industrial products and services (259.83 million), construction (126.10 million), technology (418.46 million), SPAC (nil), financial services (153.74 million), property (165.28 million), plantation (25.93 million), REITs (15.36 million), closed/fund (235,235), energy (100.19 million), healthcare (129 million), telecommunications and media (37.98 million), transportation and logistics (28.59 million), utilities (48.61 million), and business trusts (855,900).

-- BERNAMA