Bursa Malaysia Ends Lower In Line With Regional Markets
By Siti Radziah Hamzah
KUALA LUMPUR, May 19 (Bernama) -- Bursa Malaysia ended lower on Monday, mirroring the lacklustre performance across Asia as weak Chinese economic data and the recent downgrade of the United States' sovereign credit rating weighed on regional market sentiment.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 15.61 points, or 0.99 per cent, to 1,556.14 from Friday's close of 1,571.75.
bootstrap slideshow
The benchmark index opened 5.18 points lower at 1,566.57 and fluctuated between 1,550.93 and 1,566.57 throughout the trading session.
In the broader market, losers thumped gainers 889 to 216, while 384 counters were unchanged, 906 untraded and 17 suspended.
Turnover increased to 3.71 billion units worth RM2.27 billion versus last Friday's 2.91 billion units worth RM2.16 billion.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng believed the selldown offers an opportunity to bargain hunt stocks at lower levels.
'We reckon it is time to accumulate blue chips with strong dividend yields, such as banks and utilities, for a better defensive approach. As such, we anticipate the benchmark index will trend within the range of 1,550-1,580 for the week,' he told Bernama.
Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research, Mohd Sedek Jantan, said despite the selling pressure, trading activity remained robust.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
4 minutes ago
- The Star
Demonstrations tarnish country's image, threaten VM2026, tour operator group says
KUALA LUMPUR: The Malaysia Tourism Agency Association (Mata) has expressed concern over the impact of street demonstrations, particularly in the lead-up to Visit Malaysia 2026 (VM2026), saying they threaten public security and tarnish the country's reputation as a safe tourism destination. It stressed that such continued large-scale public demonstrations could hinder efforts to promote VM2026 and attract millions of potential international visitors. "A tarnished national image can directly affect tourist arrivals and foreign investments. "Demonstrations can affect business operations and employment opportunities, and increase the overall cost of living for the people. The people's peace and safety are priorities that cannot be compromised," said its president Datuk Sri Dr Mohd Khalid Harun in a statement on Monday (July 28). Mata also warned that mobilising the people to take to the streets posed a security risk, including potential provocation, conflicts and disorders that could threaten public order. Mata also said that Malaysia, known as a destination for Islamic and nature-based tourism, would face huge challenges if street demonstrations continue and receive negative media exposure globally. Meanwhile, Mohd Khalid also reminded that Malaysia is currently in a strong post-pandemic economic recovery phase. "Stability and peace are the foundation of progress in the tourism industry. Without safety guarantees, tourists will choose other destinations, which are more stable and safer," he said. He emphasised that Mata recognises the people's right to voice their opinions, but stressed that every action must be carried out responsibly without compromising national harmony. "We must work together to maintain stability to ensure VM2026 is successful and the people's economy continues to grow," he said. - Bernama
The Star
4 minutes ago
- The Star
Bursa Malaysia ends morning session marginally higher
KUALA LUMPUR: Bursa Malaysia ended the morning trading session marginally higher, rising by 0.29 per cent, driven by buying interest in selected heavyweight stocks, particularly in the financial services and industrial products and services sectors. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.46 points to 1,538.22, from Friday's close of 1,533.76. The benchmark index had opened 4.29 points firmer at 1,538.05 and moved between 1,531.28 to 1,539.38 throughout the session. However, the broader market sentiment was slightly bearish, with losers edging past gainers 416 to 396, while 459 counters were unchanged, 1,281 untraded, and 43 suspended. Turnover stood at 1.78 billion units worth RM992.39 million. In a note today, Hong Leong Investment Bank Bhd (HLIB) said investors are expected to trade cautiously ahead of the upcoming United States (US) Federal Reserve meeting and President Donald Trump's Aug 1 tariff deadline. It noted that the US and European Union (EU) agreed on a hard-fought deal that will see the bloc face 15 per cent tariffs on most of its exports, staving off a trade war that could have delivered a hammer blow to the global economy. "Additionally, caution may prevail amid expectations of a soft US August earnings season and the FBM KLCI's seasonal underperformance. Domestic headwinds from subsidy rationalisation and the potential Sales and Services Tax expansion could further dampen consumer sentiment and earnings visibility. "Therefore, we expect the local benchmark index to trade range-bound between 1,518 and 1,551 this week,' it said. Among the heavyweights, Maybank and CIMB gained eight sen each to RM9.62 and RM6.83, respectively, and Press Metal Aluminium garnered nine sen to RM5.43, while Tenaga Nasional lost 10 sen to RM13.50 and Hong Leong Bank slipped 12 sen to RM19.24. As for the actives, Tanco added one sen to 92.5 sen, NexG and Sapura Energy both inched up half-a-sen to 53 sen and four sen, respectively, Ekovest grew three sen to 43 sen and YTL Corporation advanced five sen to RM2.53. Among the top gainers, Nestle improved RM1.88 to RM87.38, Sam Engineering and Equipment edged up 14 sen to RM4.21 and Allianz Malaysia bagged 12 sen to 69 sen. Top losers United Plantations slipped 28 sen to RM21.94 and Petronas Dagangan was 20 sen lower at RM21.50. Across the broader market, the FBM Emas Index strengthened 33.02 points to 11,539.84, the FBMT 100 Index went up 30.36 points to 11,300.08, and the FBM Emas Shariah Index rose 15.77 points to 11,544.75. The FBM 70 Index climbed 34.19 points to 16,641.76, while the FBM ACE Index edged up 10.40 points to 4,649.42 Sector-wise, the Financial Services Index jumped 74.68 points to 17,528.91, the Industrial Products and Services Index was 1.27 points higher at 158.41, and the Energy Index ticked up 2.44 points to 742.29, while the Plantation Index lost 11.70 points to 7,423.09. - Bernama
The Star
34 minutes ago
- The Star
Malaysia's producer price index declined 4.2% in June 2025
KUALA LUMPUR: Malaysia's Producer Price Index (PPI), which measures price changes at the producer level, went down further by 4.2 per cent in June 2025, after a 3.6 per cent decline in the previous month, said the Department of Statistics (DoSM) today. Its chief statistician Datuk Seri Dr Mohd Uzir Mahidin said all sectors registered year-on-year declines in June 2025, with mining and manufacturing sectors emerging as the primary contributors to the overall negative trend of the index. The mining sector declined by 8.0 per cent compared to -15 per cent in May 2025, affected by the declines in extraction of natural gas (-12.0 per cent) and extraction of crude petroleum (-6.7 per cent) indices. At the same time, the manufacturing sector went down by -4.3 per cent against 3.0 per cent in May 2025, contributed by significant downturns in the manufacture of coke and refined petroleum products (-17.7 per cent) and manufacture of computer, electronic and optical products (-7.8 per cent) indices. - Bernama Trading ideas: TNB, Ekovest, Sapura Energy, Globetronics, Jentayu, Rhone Ma, Ecobuilt, Salcon, ETA, Polymer, CTOS
