Kuala lumpur: Bursa Malaysia's key index ended lower on Wednesday, reversing gains from the previous day, as profit-taking activities dominated the market in line with regional trends. At the close of trading, the FTSE Bursa Malaysia KLCI (FBM KLCI) recorded a drop of 14.14 points, or 0.87 percent, settling at 1,602.69 compared to Tuesday's closing of 1,616.83.

According to BERNAMA News Agency, the benchmark index experienced fluctuations throughout the day, opening slightly higher at 1,617.56, which marked its peak for the day, before hitting a low of 1,602.06 in the late trading session. The broader market reflected a negative sentiment with 699 decliners outperforming 355 gainers, while 491 counters remained unchanged, 1,148 were untraded, and 31 were suspended. Turnover saw a decrease to 3.41 billion units valued at RM2.34 billion, down from 3.68 billion units worth RM2.55 billion on the previous trading day.

Rakuten Trade Sdn Bhd's vice-president of equity research, Thong Pak Leng, noted that technology stocks took a pause after previous gains, dipping by 0.24 percent, influenced by a decline in the US Nasdaq Composite Index. The correction in the Nasdaq was primarily triggered by an earnings warning from Dutch semiconductor equipment giant ASML Holding, which impacted the global chip supply chain.

Thong also mentioned that market sentiment was affected by political uncertainties, particularly after US President Donald Trump suggested that a planned meeting with Chinese President Xi Jinping might not occur. He highlighted that such uncertainties could lead to increased market volatility and cautious trading behavior.

The FBM KLCI is expected to remain within a range-bound trend of 1,600-1,630 points for the remainder of the week. Thong suggested that the 1,600 level continues to be a crucial support for the index, where bargain-hunting activities may emerge if the index approaches this mark.

Among heavyweight counters, CIMB dropped 15 sen to RM7.20, Public Bank decreased by six sen to RM4.21, Hong Leong Bank fell 46 sen to RM20.50, and Tenaga Nasional dipped 16 sen to RM13.08. Meanwhile, Maxis saw a slight increase of one sen to RM3.81.

On the most active list, newly listed Verdant Solar Bhd closed at 37 sen, up six sen from its issue price. Tanco and Land and General both rose by half-a-sen each to 87.5 sen and 18.5 sen, respectively. Perak Transit fell by 30 sen to 33.5 sen, and Pharmaniaga eased by 1.5 sen to 26 sen.

Top gainers included United Plantations, which rose 76 sen to RM24.42, while Fraser and Neave increased by 18 sen to RM28.32. Bursa Malaysia gained 17 sen to RM8.49, Sungei Bagan Rubber improved by 15 sen to RM5.77, and Vitrox added 12 sen to RM4.47.

Conversely, among the top decliners, Nestle slipped RM1.20 to RM108.30, Petronas Dagangan decreased by 30 sen to RM22.24, Hi Mobility weakened by 16 sen to RM2.50, and Bintulu Port fell by 15 sen to RM5.18.

On the index board, the FBM Emas Index fell by 82.50 points to 12,000.20, the FBMT 100 Index slumped by 77.54 points to 11,735.85, and the FBM Emas Shariah Index dipped by 58.93 points to 12,098.52. The FBM 70 Index eased by 0.73 points to 17,114.20, and the FBM ACE Index eased by 21.17 points to 5,290.26.

In sectoral performance, the Financial Services Index tumbled 185.25 points to 18,068.23, the Industrial Products and Services Index fell by 1.02 points to 170.36, and the Energy Index slid by 6.88 points to 785.40, while the Plantation Index gained 5.75 points to 7,907.82.

The Main Market volume increased to 1.76 billion units valued at RM2.02 billion from 1.68 billion units valued at RM2.21 billion on Tuesday. Warrants turnover declined to 1.16 billion units worth RM140.62 million compared with 1.58 billion units worth RM189.80 million yesterday. The ACE Market volume climbed to 482.47 million units valued at RM168.77 million from 425.07 million units valued at RM145.50 million previously.

Consumer products and services counters accounted for 554.74 million shares traded on the Main Market, industrial products and services for 250.70 million, construction for 113.11 million, technology for 194.90 million, financial services for 52.26 million, property for 262.99 million, plantation for 22.22 million, real estate investment trusts for 11.33 million, closed-end fund for 2,400, energy for 103.65 million, healthcare for 131.94 million, telecommunications and media for 21.98 million, transportation and logistics for 18.12 million, utilities for 26.11 million, and business trusts for 19,900.