Bursa ends lower amid weak regional sentiment
BURSA Malaysia ended at an intraday low yesterday, tracking the mostly downbeat performance of regional peers, said an analyst.
At 5pm, the FBM KLCI slid 10.47 points, or 0.64 per cent, to 1,605.35 from Tuesday’s close of 1,615.82.
The benchmark index, which opened 1.11 points lower at 1,614.71 to mark its day’s high, was on a downward trajectory for the rest of the session.
Decliners outnumbered gainers 834 to 400, with 424 counters unchanged, 763 untraded and 50 others suspended.
Turnover declined to 4.73 billion units worth RM3.68 billion from Tuesday’s 4.86 billion units worth RM3.79 billion.
Apex Securities Bhd head of research Kenneth Leong said the FBM KLCI has taken another step backwards to mark its fourth straight losing streak as the extended pullback was in tandem with the weakness across regional markets that were impacted by the hawkish remarks from the US Federal Reserve (Fed) officials that signals a potential higher-for-longer interest rate environment.
“Technically, the FBM KLCI has formed another bearish candle as the key index staged an extended pullback pattern.
“For now, we expect the downward bias consolidation to take shape with the key index looking to re-test the 1,600 level,” he told Bernama.
Among the heavyweights, Public Bank and CIMB shed four sen each to RM4.08 and RM6.87 respectively, IHH Healthcare slipped one sen to RM6.19, Maybank was down nine sen to RM9.90, and Tenaga Nasional inched down six sen to RM13.20.
Among the actives, ACE Market debutante Kawan Renergy climbed 16.5 sen to 46.5 sen, Alpha IVF Group improved half-a-sen to 32 sen, while Epicon was 8.5 sen lower at 31.5 sen, AHB Holdings slid 2.5 sen to 12.5 sen, and Revenue Group eased 1.5 sen to 22 sen.