KUALA LUMPUR, Oct 29 (Bernama) -- Bursa Malaysia snapped a two-day winning streak to close lower on Thursday, in line with regional markets, as continued selling pressure in blue chip stocks weighed on market sentiment.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.71 points, or 0.17 per cent, to 1,611.16 from Wednesday’s close of 1,613.87.
The benchmark index opened 0.57 of a point higher at 1,614.44 and moved between 1,608.25 and 1,625.46 during the trading session.
The broader market was negative, with losers outpacing gainers 574 to 443, while 559 counters were unchanged, 1,301 untraded, and 161 suspended.
Turnover decreased to 2.95 billion units worth RM2.43 billion from Wednesday’s 3.16 billion units worth RM2.28 billion.
IPPFA Director of Investment Strategy and Country Economist Mohd Sedek Jantan said foreign investors remained net buyers on Bursa Malaysia for a second consecutive session, offering a potential sign of improving sentiment.
However, he said it is too early to establish a sustained reversal in foreign fund flows, wherein the recent inflows may suggest that investors are beginning to selectively accumulate undervalued large-cap stocks.
“This could potentially favour companies with more resilient earnings profiles amid heightened volatility in the technology sector.
“The key question is whether this renewed buying interest can persist, or whether it represents only a short-term tactical rotation as investors await greater clarity on global earnings and geopolitical risks,” he said.
Among the heavyweight stocks, CIMB decreased 22 sen to RM6.89, Petronas Chemicals fell 15 sen to RM4.57, Nestle gave up RM2.08 to RM95.90, and MISC shed nine sen to RM8.20. Sunway Bhd slid five sen to RM4.30.
In active trade, Zetrix AI and Nexgram fell half a sen each to eight sen and five sen, respectively, Ni Hsin slipped 13 sen to 37 sen, GIIB Holdings sank 17 sen to 54 sen, and Top Glove rose two sen to 99 sen.
Allianz Malaysia led the top gainers, adding 40 sen to RM19.64, Batu Kawan garnered 20 sen to RM19.50, TMK Chemical jumped 18 sen to RM3.15, while Kee Ming and Kobay Technology each rose 13 sen to RM2.90 and RM2.40, respectively.
Among the top losers, Mega Fortris slumped 71 sen to RM2.74, while Malaysian Pacific Industries dipped 64 sen to RM41.50, United Plantations erased 32 sen to RM29.00 and Kelington lost 12 sen to RM8.56.
On the index board, the FBM Emas Index declined 11.38 points to 12,055.89, the FBM Top 100 Index slipped 8.32 points to 11,850.96, while the FBM ACE Index slid 34.76 points to 5,447.16. The FBM Emas Shariah Index was 3.14 points higher at 12,084.28 and the FBM Mid 70 Index added 36.10 points to 17,484.12.
Sector-wise, the Industrial Products and Services Index shed 1.64 points to 177.39, the Financial Services Index shrank 41.30 points to 18,537.94, the Energy Index lost 2.01 points to 844.36, while the Plantation Index went down 9.93 points to 8,636.90.
The Main Market volume narrowed to 1.57 billion units worth RM2.16 billion from 1.69 billion units worth RM1.99 billion on Wednesday.
Warrants turnover decreased to 967.96 million units worth RM122.01 million against 1.07 billion units worth RM137.84 million previously.
However, the ACE Market volume improved to 408.81 million units valued at RM154.11 million from 405.80 million units valued at RM160.63 million yesterday.
Meanwhile, consumer products and services counters accounted for 255.83 million shares traded on the Main Market, industrial products and services (279.73 million), construction (110.64 million), technology (363.15 million), financial services (80.71 million), property (103.61 million), plantation (31.71 million), real estate investment trusts (11.26 million), closed-end fund (17,000), energy (93.08 million), healthcare (131.35 million), telecommunications and media (27.29 million), transportation and logistics (44.50 million), utilities (35.64 million), and business trusts (574,500).
-- BERNAMA