BURSA MALAYSIA ENDS LOWER IN SYNC WITH REGIONAL MARKET

By Karina Imran

KUALA LUMPUR, Feb 25 (Bernama) -- Bursa Malaysia extended its losses for a second straight day today, in tandem with the weak regional market performance following negative cues from global equities, said an analyst.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 16.22 points, or 1.02 per cent, to 1,568.03 from Monday’s close of 1,584.25.

The market bellwether opened 1.52 points easier at 1,582.73 and moved between 1,564.32 and 1,583.74 throughout the day.

On the broader market, decliners led gainers 905 to 217, while 390 counters were unchanged, 838 untraded, and seven suspended.

Turnover increased to 3.14 billion units worth RM2.64 billion from 2.69 billion units worth RM2.31 billion on Monday. 

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said losses were primarily centered on chipmakers and technology stocks, with investor sentiment turning negative ahead of Nvidia’s earnings report. 

Additionally, efforts by US President Donald Trump’s team to impose stricter controls on China’s chip industry could weigh on Chinese technology stocks and escalate tensions between the world’s two biggest economies. 

"Top companies have cautioned that uncertainty surrounding US trade policies is growing amid fears of higher tariffs and inflationary pressures," he told Bernama. 

As for the local bourse, Thong said analysts have maintained their cautious views on the market given the increasing volatility and uncertainty in the macro environment. 

"The FBM KLCI is navigating a consolidation phase, with sentiment remaining watchful. A sustained move above 1,590-1,600 would strengthen the case for a trend reversal, while 1,560 serves as a crucial support level. 

"We advise investors to find opportunities in large-cap stocks with solid dividend yields, particularly in sectors like banking, plantations, and real estate investment trusts (REITs) to maintain a defensive stance," he said, adding the benchmark index is expected to move within the 1,560-1,580 range for the rest of the week.

Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI registered its steepest single-day decline this month as investors continued to reprice downside risks amid persistent trade policy uncertainty and deteriorating global macroeconomic conditions.

"From a technical standpoint, the FBM KLCI remains vulnerable, with near-term downside risks persisting. Immediate support is identified at 1,555, while key structural levels at the Aug 6, 2024 low of 1,529 and the psychological 1,500 thresholds serve as critical inflection points. 

"A decisive break below these levels could accelerate downside momentum, particularly if foreign capital outflows intensify amid sustained macroeconomic uncertainty," he said.

Bursa Malaysia heavyweights Maybank eased two sen to RM10.46, CIMB slipped 15 sen to RM8.23, Public Bank eased one sen to RM4.46, Tenaga Nasional dropped 24 sen to RM13.40, and IHH Healthcare gained six sen to RM7.31. 

As for active stocks, TWL Holdings inched up half-a-sen to 2.5 sen, Ingenieur Gudang shed half-a-sen to 4.5 sen, My E.G. Services fell 3.5 sen to 97.5 sen, and SFP Tech declined five sen to 34.5 sen. 

On the index board, the FBM Emas Index tumbled 160.72 points to 11,756.29, the FBMT 100 Index fell 153.40 points to 11,504.01, the FBM Emas Shariah Index slid 172.13 points to 11,434.88, the FBM 70 Index plummeted 361.80 points to 16,871.62, and the FBM ACE Index gave up 97.09 points to 4,808.60.

By sector, the Financial Services Index sank 160.97 points to 19,145.61, the Industrial Products and Services Index shed 2.65 points to 158.70, the Energy Index was 14.47 points lower to 754.40, and the Plantation Index fell 87.70 points to 7,482.60.

The Main Market volume expanded to 1.74 billion units worth RM2.40 billion from 1.37 billion units worth RM2.05 billion on Monday. 

Warrants turnover rose to 941.25 million units worth RM98.24 million against 893.75 million units worth RM114.94 million previously.

The ACE Market volume advanced to 454.78 million units valued at RM145.01 million versus 427.80 million units valued at RM152.76 million yesterday. 

Consumer products and services counters accounted for 243.58 million shares traded on the Main Market, industrial products and services (400.98 million), construction (110.30 million), technology (231.94 million), SPAC (nil), financial services (79.23 million), property (272.14 million), plantation (29.63 million), REITs (18.51 million), closed/fund (114,900), energy (153.58 million), healthcare (96.32 million), telecommunications and media (33.88 million), transportation and logistics (22.74 million), utilities (50.56 million), and business trusts (39,600).

-- BERNAMA