Bursa Malaysia dips for second day as telco stocks drag
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 0.34 per cent or 5.19 points to close at 1,519.40, down from Monday's 1,524.59.
The broader market was negative, with 591 losers outpacing 411 gainers, while 473 counters remained unchanged.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said telecommunications stocks continued to underperform, weighing down the benchmark index.
He said this is a surprising trend considering the favourable macroeconomic backdrop of mild inflation and anticipated strong second-quarter gross domestic product growth.
"This underperformance likely reflects idiosyncratic sectoral headwinds, possibly linked to regulatory overhangs or competitive pressures.
"Nonetheless, from a strategic asset allocation perspective, we remain constructive on real estate investment trusts, which may offer yield stability amid an evolving global monetary policy landscape that is increasingly skewed towards a dovish bias in the latter half of 2025," he said.
Sedek said foreign institutional investors returned to net selling yesterday, following a short period of net buying.
He added that the shift signals ongoing risk-off sentiment stemming from worries over external trade policies.
Markets remain cautious ahead of the approaching deadline for Malaysia's bilateral tariff talks with the United States, a key event that could impact investor behaviour in the near term.
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