BURSA MALAYSIA PARES EARLIER LOSSES TO END MARGINALLY LOWER

By Anas Abu Hassan

KUALA LUMPUR, April 11 (Bernama) --  The FTSE Bursa Malaysia KLCI (FBM KLCI) slipped into negative territory today to end the week on a subdued note, weighed down by selling in banking blue chips as investors continued to assess the global trade outlook.

At 5 pm, the FBM KLCI fell 8.37 points, or 0.57 per cent, to 1,454.76 from Thursday’s close of 1,463.13.

The benchmark index opened 21.47 points lower at 1,441.66 and retreated to a low of 1,434.92 during the morning session, before recouping its losses to hit a high 1,462.15 in the early afternoon session.

Market breadth, however, was slightly positive with gainers surpassing decliners by 472 to 442. A total of 456 counters were unchanged, 993 untraded, and nine suspended.

Turnover slid to 2.80 billion units valued at RM2.46 billion against 4.41 billion units valued at RM3.81 billion on Thursday.

UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI closed lower as investor sentiment remained weighed down by renewed concerns over US President Donald Trump’s proposed tariff hikes on China.

"Although there is currently a temporary pause on certain duties, broader fears of disrupted trade flows and slower global economic growth continue to overshadow an otherwise encouraging macroeconomic data," he told Bernama.

Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said Asian regional equities posted mixed performance today, reacting cautiously to the sell-off on Wall Street overnight.

"However, China and Hong Kong outperformed after Beijing reiterated its commitment to supporting local markets and unveiled plans for additional stimulus measures," he noted.  

Among the heavyweights, Maybank dropped 17 sen to RM9.82, Public Bank fell one sen to RM4.24, Tenaga Nasional slipped eight sen to RM13.22, CIMB lost 26 sen to RM6.65, and IHH Healthcare was flat at RM6.80.

For active trades, MYEG added 6.5 sen to 90 sen, SumiSaujana added half-a-sen to 19.5 sen, Gamuda trimmed eight sen to RM3.77, Top Glove eased half-a-sen to 90.5 sen, and Tanco shed two sen to 78 sen.

On the index board, the FBM Emas Index dipped 32.33 points to 10,810.08 and the FBMT 100 Index declined 39.13 points to 10,601.67, but the FBM Emas Shariah Index climbed 36.09 points to 10,604.91.

The FBM 70 Index rose 30.80 points to 15,265.93 and the FBM ACE Index increased 42.46  points to 4,412.19.

Across sectors, the Financial Services Index dropped 229.68 points to 17,534.53, the Industrial Products and Services Index edged up 0.63 of-a-point to 139.43, the Energy Index shed 11.20 points to 648.74, and the Plantation Index advanced 16.64 points to 7,062.53.

The Main Market volume dwindled to 1.44 billion units worth RM2.25 billion from 2.55 billion units worth RM3.52 billion on Thursday.

Warrants turnover slipped to 969.44 million units valued at RM964.69 million from 1.35 billion units valued at RM134.97 million yesterday.

The ACE Market volume shrank to 382.27 million units worth RM117.12 million from 494.69 million units worth RM155.19 million previously.

Consumer products and services counters accounted for 181.63 million shares traded on the Main Market, industrial products and services (187.21 million), construction (109.76 million), technology (266.49 million), SPAC (nil), financial services (115.30 million), property (182.35 million), plantation (23.54 million), REITs (10.35 million), closed/fund (13,100), energy (159.33 million), healthcare (97.92 million), telecommunications and media (35.18 million), transportation and logistics (25.62 million), utilities (48.42 million), and business trusts (49,700).

-- BERNAMA