Bursa Malaysia closed lower across the board today as investors assessed the impact of the US’s latest tariffs on imports from 60 economies.
However, the FTSE Bursa Malaysia KLCI (FBM KLCI) fared better than its regional peers.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the latest trade measures, coupled with rising crude oil prices and uncertainty surrounding upcoming US technology earnings, weighed on market sentiment.
Brent crude oil traded above US$100 (RM409.11) per barrel before easing to US$97.28 (RM397.98) per barrel at the close today, after attacks on Saudi oil tankers in the Red Sea and renewed US strikes on Iran intensified concerns over West Asia supply risks, adding to worries over inflation and the global growth outlook.
As for the local bourse, Thong said sentiment has turned cautious amid escalating geopolitical tensions and the implementation of the latest US tariffs.
“However, we believe the 1,700 level should provide strong psychological and technical support, driven by bargain-hunting after the recent pullback.
While external headwinds are likely to keep volatility elevated, the FBM KLCI has retreated to above the 1,700-support level, bringing valuations to more attractive levels,” he told Bernama.
Meanwhile, IPPFA Sdn Bhd director and country economist Sedek Jantan said the local market has demonstrated greater resilience than during the previous oil price spike, despite the benchmark index’s decline.
He said the FBM KLCI has so far managed to hold above the 1,700-point level, suggesting stronger underlying market support, underpinned by improved domestic fundamentals and continued institutional participation.
“While geopolitical developments and elevated energy prices are likely to keep volatility high in the near term, the market’s ability to remain above key psychological support indicates that investors are adopting a more measured approach rather than a broad-based risk-off reaction,” he said.
At 5pm, the FBM KLCI declined 13.57 points, or 0.79%, to 1,701.02 from yesterday’s close of 1,714.59.
The benchmark index opened 4.14 points lower at 1,710.45, and moved between 1,697.76 and 1,710.80 throughout the day.
On the broader market, decliners outnumbered advancers 723 to 339, while 543 counters were unchanged, 1,168 untraded and 30 suspended.
Turnover narrowed to 3.03 billion units valued at RM2.3 billion from 3.19 billion units valued at RM2.27 billion yesterday.
Among heavyweight stocks, Maybank was eight sen lower at RM10.78, while Public Bank gave up six sen to RM5.11, Tenaga Nasional fell 14 sen to RM14.36, CIMB inched down five sen to RM7.68, and IHH Healthcare shed nine sen to RM8.30.
Among active stocks, Aimax was flat at one sen, HHRG eased three sen to 15 sen, Zetrix AI and Aimflex were one sen lower at 70 sen and 12.5 sen, respectively, while Trive Property inched up 0.5 sen to two sen.
As for the top gainers, ESYS surged 44 sen to 55 sen, United Plantations rose 32 sen to RM33.42, Allianz Malaysia and Chin Teck Plantations advanced 28 sen each to RM21.24 and RM11.34, respectively, and Ideal Capital jumped 24 sen to RM3.99.
Among top decliners, Malaysian Pacific Industries dropped RM1.10 sen to RM45.08, Nestle fell 58 sen to RM90.62, Hong Leong Bank slipped 38 sen to RM21.98, Fraser & Neave erased 34 sen to RM28.30, and Press Metal Aluminium slid 19 sen to RM7.86.
Among the broader indices, the FBM Emas Index slid 68.19 points to 12,589.54, the FBM Top 100 Index declined 69.90 points to 12,411.96, and the FBM ACE Index decreased 42.21 points to 4,926.87.
The FBM Mid 70 Index gained 23.48 points to 17,890.83 while the FBM Emas Shariah Index sank 52.03 points to 12,444.25.
By sector, the plantation index surged 60.71 points to 9,300.98, while the financial services index slumped 153.60 points to 20,057.11, the industrial products and services index edged down 0.90 of-a-point to 187.86, and the energy index gave up 0.31 of-a-point to 773.83.
The Main Market volume declined to 1.73 billion units valued at RM2.06 billion compared to 1.84 billion units valued at RM2.02 billion yesterday.
Warrants turnover tumbled to 745.36 million units worth RM92.85 million versus 902.43 million units worth RM117.01 million previously.
The ACE Market volume expanded to 556.89 million units valued at RM149.98 million from 449.6 million units valued at RM132.47 million yesterday.
Consumer products and services counters accounted for 163.75 million shares traded on the Main Market, industrial products and services (327.93 million), construction (99.57 million), technology (498.38 million), financial services (71.06 million), property (140.81 million), plantation (55.25 million), real estate investment trusts (20.68 million), closed-end fund (397,300), energy (231.36 million), healthcare (48.07 million), telecommunications and media (19.31 million), transportation and logistics (29.19 million), utilities (31.56 million), and business trusts (5,600).
