KUALA LUMPUR, March 3 ― Bursa Malaysia ended mixed today as the market is stuck in a consolidation mode with investor sentiment remaining cautious on lack of buying catalysts domestically, amid concerns over a rate hike by the US Federal Reserve.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 1.94 points to 1,453.55 from yesterday’s closing of 1,455.49.
The index opened 2.29 points higher at 1,457.78, its intraday high, and hit a low of 1,452.62 earlier during the trading session.
Market breadth was positive with advancers outpacing decliners 520 to 338, while 429 counters were unchanged, 937 untraded, and 12 others suspended.
Turnover rose to 2.69 billion units worth RM1.89 billion from yesterday's 2.50 billion units worth RM1.77 billion.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the upbeat key regional indices was sparked by another bullish survey showing a sharp recovery in China services but this provided little boost to local sentiment as fears of a US rate hike continues to dominate.
“We expect sentiment to continue to remain cautious and reckon the increasing external volatility to be a major setback, while at the same time face some selling pressure from foreign funds,” he told Bernama.
China’s services sector saw a jump in activity, according to the Caixin/S&P Global services purchasing manager’s index, with a reading of 55 in February from 52.9 in January.
Meanwhile, Japanese markets ended sharply higher as the country's inflation eased in February from the previous month.
At home, heavyweights CelcomDigi rose 4.0 sen to RM4.34, IOI added 5.0 sen to RM3.87, while AMMB and Hong Leong Bank rose 8.0 sen each to RM3.97 and RM20.58 respectively.
Maybank and Sime Darby Plantation eased 4.0 sen to RM8.71 and RM4.26 respectively, while Telekom Malaysia was 9.0 sen lower at RM4.93.
Among the active stocks, Boustead soared 20 sen to 85.5 sen, Velesto rose 1.5 sen to 21.5 sen, Bumi Armada was 3.5 sen higher at 69.5 sen, and Pharmaniaga gained 2.5 sen to 27.5 sen.
On the index board, the FBM Emas Index ticked up 5.45 points to 10,588.43, the FBM Emas Shariah Index gained 1.56 points to 10,814.04, the FBM 70 Index garnered 44.18 points to 13,446.61, the FBM ACE Index perked up 47.63 points to 5,426.73, while the FBMT 100 Index declined 2.60 points to 10,269.76.
Sector-wise, the Financial Services Index climbed 17.06 points to 16,163.73, the Plantation Index advanced 20.86 points to 6,831.00, the Energy Index rose 13.77 points to 871.73, and the Industrial Products and Services Index inched up 0.62 of-a-point to 177.65.
The Main Market volume expanded to 1.95 billion shares worth RM1.64 billion from Thursday's 1.58 billion shares worth RM1.47 billion.
Warrants turnover dwindled to 254.87 million units worth RM48.60 million from 300.63 million units worth RM54.89 million yesterday.
The ACE Market volume shrank to 479.55 million shares worth RM201.85 million from 618.74 million shares worth RM244.65 million previously.
Consumer products and services counters accounted for 208.15 million shares traded on the Main Market, industrial products and services (628.67 million); construction (54.43 million); technology (202.85 million); SPAC (nil), financial services (55.24 million); property (118.82 million); plantation (37.50 million); REITs (4.7 million), closed/fund (28,400); energy (358.54 million); healthcare (162.64 million); telecommunications and media (36.62 million); transportation and logistics (24.47 million); and utilities (58.72 million). ― Bernama