Kuala Lumpur: Bursa Malaysia closed lower on Friday, weighed down by heavy selling in technology, healthcare, and logistics stocks, as risk-off sentiment intensified following escalating geopolitical tensions and Washington's plan to impose unilateral tariffs within the next two weeks. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 8.51 points, or 0.56 per cent, to 1,518.11 from Thursday's close of 1,526.62. The benchmark index opened 4.15 points weaker at 1,522.47 and fluctuated between 1,515.10 and 1,522.70 during the session.
According to BERNAMA News Agency, market breadth was bearish with losers surpassing gainers 764 to 250, while 463 counters were unchanged, 944 untraded, and 17 suspended. Turnover improved to 2.88 billion units worth RM2.06 billion compared with the previous day's 2.73 billion units worth RM2.07 billion. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan noted that the FBM KLCI closed lower as geopolitical tensions resurfaced, affecting regional markets and dampening investor sentiment.
Mohd Sedek Jantan highlighted that today's trading session resembled market behavior during the first day of the Russia-Ukraine war in 2022, though this escalation involves two major oil-exporting nations, following Israel's strikes on Iran's nuclear facilities. He also mentioned that Malaysia continues to show relative resilience among regional peers, similar to its performance during the Ukraine crisis, supported by its position as a net commodity exporter. A potential sectoral shift into defensives such as utilities and plantations could re-emerge if the current volatility persists.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng commented on the heightened risk-off sentiment triggered by Israel's strikes on Iran and escalating tensions in the Middle East. Additionally, trade tensions resurfaced after US President Donald Trump warned that auto tariffs could be raised soon, following a recent claim that the US-China deal was completed. Thong noted a preference for prudence on the domestic front due to the sudden shift in the macroeconomic environment and acknowledged potential volatility in investor sentiment.
Among the heavyweights, Maybank and CIMB both fell by seven sen to RM9.70 and RM6.82, respectively, Public Bank shed four sen to RM4.25, Tenaga Nasional gained four sen to RM14.30, CelcomDigi advanced one sen to RM3.80, and IHH Healthcare remained flat at RM6.90. In the most active stocks, MYEG lost one sen to 95.5 sen, while Tanco and Velesto each rose by half-a-sen to 96.0 sen and 18.5 sen, respectively. Bumi Armada climbed one sen to 49 sen, Hibiscus Petroleum surged 11 sen to RM1.66, Kanger was flat at 3.5 sen, and Sinaran Advance decreased by half-a-sen to three sen.
On the index board, the FBM Emas Index fell 74.74 points to 11,370.18, the FBMT 100 Index declined 70.22 points to 11,144.04, and the FBM Emas Shariah Index shrank 67.97 points to 11,329.53. The FBM 70 Index slid 133.95 points to 16,368.71, and the FBM ACE Index slipped 37.50 points to 4,487.19. Sector-wise, the Energy Index climbed 14.63 points to 740.76, the Plantation Index rose 27.18 points to 7,220.92, while the Financial Services Index dropped 141.02 points to 17,648.25, and the Industrial Products and Services Index trimmed 0.84 of-a-point to 151.35.
The Main Market volume rose to 1.37 billion units valued at RM1.81 billion from the previous day's 1.21 billion units valued at RM1.82 billion. Warrants turnover declined to 1.16 billion units worth RM151.36 million from 1.31 billion units worth RM160 million previously. The ACE Market volume expanded to 359.88 million units valued at RM97.50 million from 211.79 million units valued at RM81.62 million the day before.
Consumer products and services counters accounted for 284.9 million shares traded on the Main Market, followed by industrial products and services (181.32 million), construction (94.51 million), technology (176.99 million), financial services (63.39 million), property (141.52 million), plantation (12.54 million), REITs (26.04 million), energy (193.38 million), healthcare (76.04 million), telecommunications and media (39.15 million), transportation and logistics (22.28 million), utilities (56.73 million), and business trusts (340,100).