BURSA MALAYSIA ENDS EASIER IN CONSOLIDATION MODE

By Anas Abu Hassan

KUALA LUMPUR, Nov 25 (Bernama) -- Bursa Malaysia closed lower in consolidation mode as investors continued to seek value on small-cap stocks amid cautious sentiment, despite mostly upbeat regional market performance, a dealer said.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.04 points, or 0.43 per cent, to 1,611.74 from Monday’s close of 1,618.78.

The benchmark index, which opened 0.76 of-a-point higher at 1,619.54, rose to a high of 1,620.99 during the early morning session before slipping to a low of 1,611.25 in late trading.

The broader market was negative with decliners beating gainers 588 to 556, while 569 counters were unchanged, 1,096 untraded, and 40 suspended.

Turnover slid to 4.39 billion units worth RM2.82 billion against 5.81 billion units worth RM5.24 billion on Monday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng believed that the benchmark index has moved into a period of consolidation after its recent climb, nonetheless, the pause is viewed as a healthy part of the market’s rhythm.

"Importantly, the consistently strong market volume seen in recent sessions is a positive sign for the local market, as it reflects firm participation despite the temporary sideways movement.

"This suggests that investors are taking time to reassess positions rather than retreating, which remains constructive for the broader trend," he told Bernama.

Thong emphasised that the underlying market tone remained steady and the pause seemed more like a natural breather rather than a sign of weakness. 

"Hence, we anticipate the FBM KLCI to trend within the range of 1,610-1,640 for the rest of the week," he added.

Among heavyweights, Maybank added two sen to RM9.98, Public Bank and CIMB remained unchanged at RM4.30 and RM7.47 respectively, TNB gained six sen to RM13.10, while IHH slipped four sen to RM8.04.

On the most active list, XOX Technology shed half-a-sen to five sen, Velesto eased one sen to 22.5 sen, Polymer Link was flat at 25 sen, while Zetrix added two sen to 83.5 sen, and Tanco climbed four sen to RM1.08.

Top gainers included MPI which rose RM1.38 to RM33.04, Kuala Lumpur Kepong advanced 32 sen to RM21.04, Dutch Lady put on 26 sen to RM29.30, United Plantations increased 24 sen to RM28.60, and UWC jumped 18 sen to RM3.71.

Among the top losers, Nestle trimmed RM2 to RM110, Hong Leong Bank dropped 94 sen to RM21.28, Petronas Dagangan lost 38 sen to RM20.62, Malayan Cement fell 33 sen to RM6.32, and Maxis sank 26 sen to RM4.10.

On the index board, the FBM Emas Index slipped 33.16 points to 11,986.35, the FBM Emas Shariah Index dipped 30.30 points to 11,965.52, and the FBMT 100 Index shaved 37.59 points to 11,756.43.

The FBM ACE Index advanced 22.16 points to 4,925.04 and the FBM Mid 70 Index went up 5.60 points to 16,946.80.

Sector-wise, the Financial Services Index dropped 67.92 points to 18,469.00, the Plantation Index gained 14.65 points to 8,232.22, the Energy Index added 2.99 points to 760.32, but the Industrial Products & Services Index eased 0.10 of-a -point to 163.55.

The Main Market volume declined to 1.52 billion units worth RM2.27 billion from 2.02 billion units worth RM4.47 billion on Monday.

Warrants turnover shrank to 2.45 billion units worth RM419.16 million from 3.37 billion units worth RM628.30 million yesterday.

The ACE Market volume improved to 428.17 million units valued at RM134.95 million against 416.25 million units valued at RM136.78 million previously.

Consumer products and services counters accounted for 308.98 million shares traded on the Main Market, industrial products and services (260.59 million), construction (100.91 million), technology (230.34 million), financial services (43.15 million), property (173.35 million), plantation (34.55 million), real estate investment trusts (16.97 million), closed-end fund (82,300), energy (132.23 million), healthcare (73.84 million), telecommunications and media (70.08 million), transportation and logistics (33.27 million), utilities (34.69 million), and business trusts (372,800).

-- BERNAMA