KUALA LUMPUR: Bursa Malaysia closed in negative territory yesterday, erasing earlier gains as late selling pressure weighed on the market, while investors remained cautious ahead of upcoming tariff announcements by US President Donald Trump.
At 5pm, the FBM KLCI declined by 1.63 points, or 0.11%, to 1,503.82 from last Friday’s close of 1,505.45.
The benchmark index opened 1.05 points higher at 1,506.50.
On the broader market, decliners led gainers 601 to 310, while 435 counters were unchanged, 1,080 untraded and 19 suspended.
Turnover fell to 3.01 billion units worth RM1.92bil from 3.43 billion units worth RM4.28bil last Friday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional markets closed mixed, with investor sentiment turning cautious ahead of potential US tariff announcements that could strain global trade.
“We believe the local market sentiment will remain mixed, prompting a cautious approach. Unless a clear breakout occurs, the FBM KLCI is expected to stay rangebound,” he told Bernama.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI closed little changed yesterday, as market sentiment remained neutral amid ongoing geopolitical developments.
“Market participants are primarily focused on the April 2 deadline for the next phase of US tariff announcements.
“On that date, the United States plans to impose significant trade duties on all nations that have levied tariffs on US exports, aiming to create a more level playing field for American goods,” Mohd Sedek noted.
Among the heavyweights, CIMB Group
Holdings Bhd gained seven sen to RM6.92 and IHH Healthcare Bhd rose five sen to RM6.95.
Malayan Banking Bhd eased two sen to RM10.16, Public Bank Bhd slipped one sen to RM4.48, while Tenaga Nasional Bhd was flat at RM13.56.
Among the actives, Bina Puri Holdings Bhd rose half-a-sen to 33 sen, Saliran Group Bhd slipped one sen to 24.5 sen, V.S. Industry Bhd dipped one sen to 83 sen, while Pertama Digital Bhd and EA Holdings Bhd were flat at 16 sen and half-a-sen respectively.
