KUALA LUMPUR: Bursa Malaysia closed flat on Wednesday as caution weighed on sentiment amid a mixed performance in regional bourses, an analyst said.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.71 of a point, or 0.04 per cent, to 1,634.91 from yesterday’s close. The benchmark index, which opened 2.04 points higher at 1,637.66, moved between 1,634.91 and 1,642.29 throughout the session.
On the broader market, decliners led gainers 566 to 548, with 494 counters unchanged, 816 untraded and 20 suspended. Turnover fell to 3.22 billion units valued at RM2.47 billion from Tuesday's 3.25 billion units valued at RM2.67 billion.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng noted that investors were cautious ahead of Thursday's US inflation data and the US Federal Reserve’s (Fed) September meeting minutes later tonight, which would offer further clues on its rate-cutting trajectory. "Meanwhile in China, anticipation grows for the announcement (on Saturday) of a major fiscal stimulus package that is expected to (be worth) between two and three trillion yuan," he told Bernama.
Hence, he maintains a cautious stance for the local bourse while the sentiment remains mixed. "However, the inflow of foreign funds could signal a potential positive shift. As such, we keep our weekly FBM KLCI target unchanged at between 1,630 and 1,650," he added.
Among heavyweight stocks, Maybank added two sen to RM10.50, CIMB bagged seven sen to RM8.03 and Tenaga Nasional jumped 24 sen to RM14.42. IHH Healthcare shed three sen to RM7.22 and Petronas Chemicals slid 20 sen to RM5.60.
Of the active stocks, Crest Group, TWL Resources, Hong Seng and Alpha IVF were unchanged at 35 sen, 2.5 sen, one sen, and 35 sen, respectively, while 99 Speed Mart widened three sen to RM2.49.
On the index board, the FBM Emas Index climbed 1.64 points to 12,270.51, the FBMT 100 Index picked up 6.06 points to 11,968.83 and the FBM 70 Index gained 50.77 points to 17,505.67. The FBM ACE Index ticked up by 7.36 points to 5,160.02 while the FBM Emas Shariah Index slipped 15.29 points to 12,166.63.
Sector-wise, the Financial Services Index added 43.35 points to 19,245.69 while the Plantation Index edged down 41.45 points to 7,172.17 and the Industrial Products and Services Index dropped 2.34 points to 175.28. The Energy Index was 11.72 points lower at 884.06.
The Main Market volume improved to 1.69 billion units worth RM2.17 billion from Tuesday's 1.60 billion units worth RM2.33 billion.
Warrant turnover was flat at 1.06 billion units valued at RM137.28 million from 1.06 billion units valued at RM153.68 million yesterday.
The ACE Market volume dropped to 461.09 million units worth RM155.36 million from 583.74 million units worth RM178.93 million.
Consumer products and services counters accounted for 516.08 million shares traded on the Main Market, industrial products and services (270.11 million), construction (134.69 million), technology (194.08 million), SPAC (nil), financial services (48.39 million), property (204.16 million), plantation (33.88 million), REITs (21.56 million), closed/fund (350,300), energy (114.44 million), healthcare (53.90 million), telecommunications and media (25.81 million), transportation and logistics (31.88 million), utilities (43.33 million), and business trusts (576,200 million). - Bernama
