KUALA LUMPUR: Bursa Malaysia ended lower on Tuesday, with the key index slipping 0.45 per cent amid a lack of catalysts and mild profit-taking following recent gains, in contrast with regional markets.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 7.97 points to 1,672.35 from Monday's close of 1,680.32.
The benchmark index started the day 1.91 points lower at 1,678.41 and moved between 1,667.82 and 1,679.26 throughout the day.
On the broader market, gainers beat losers by 624 to 506, while some 531 counters were unchanged, 988 untraded, and 11 suspended.
Turnover improved to 2.66 billion units worth RM2.76 billion against Monday's 2.53 billion units worth RM2.40 billion.
SPI Asset Management managing partner Stephen Innes said that while regional markets were benefiting from a broad risk-on tone, local participation remained thin, with muted retail activity and continued foreign selling weighing on index heavyweights.
He added that the forward outlook for oil prices was also offering limited support, as additional supply from Venezuela is expected to cap upside for oil-linked stocks.
"In short, the market is lacking fresh local catalysts, and mild profit-taking after recent gains has left Bursa Malaysia temporarily out of sync with stronger regional peers, rather than reacting to any acute geopolitical shock," he told Bernama.
Innes said regional markets were largely ignoring geopolitical noise surrounding US–Venezuela tensions and instead focusing on the positive tail risk that lower oil prices could deliver further down the road.
He noted that lower energy costs help cool inflation breakevens and keep the door open for additional US Federal Reserve rate cuts, which are supportive of local risk assets.
"At the regional level, lower oil prices act as a differentiator — net importers benefit more than exporters, so Malaysia does not capture the same upside as some of its importing neighbours. This effect is likely temporary. That said, global markets may remain sidelined until the nonfarm payrolls report on Friday," he said.
Index-linked financial stocks Maybank jumped 14 sen to RM10.70, Hong Leong Bank gained two sen to RM22.74, RHB Bank advanced eight sen to RM7.81, CIMB dipped 25 sen to RM7.99, and Public Bank slid four sen to RM4.52.
Other heavyweight counters, CelcomDigi surged 17 sen to RM3.44, 99 Speed Mart added one sen to RM3.93, TNB fell 16 sen to RM13.58, IHH Healthcare narrowed 10 sen to RM8.65, and Press Metal went down seven sen to RM7.06.
On the most active list, MMAG perked up one sen to 7.5 sen, Tanco rose one sen to RM1.19, Insights Analytics soared 24 sen to RM1.70, Capital A was two sen higher at 44.5 sen, SP Setia put on seven sen to 86.5 sen, while Pharmaniaga eased half-a-sen to 27.5 sen.
Among the top gainers, Nestle climbed RM4.60 to RM120.30, Malaysian Pacific Industries garnered 50 sen to RM32.0, United Plantations added 48 sen to RM30.48, while KSL Holdings and LPI Capital increased by 22 sen each to RM3.26 and RM14.80, respectively.
Of the top decliners, BLD Plantation lost RM1.26 to RM14.62, Dutch Lady dipped 36 sen to RM30.88, Kuala Lumpur Kepong and Petronas Dagangan slipped 20 sen each to RM19.78 and RM19.84, respectively, while TM declined 15 sen to RM7.71.
On the index board, the FBM Emas Index shed 1.29 points to 12,129.59, the FBM Top 100 Index declined 31.60 points to 12,119.63, and the FBM Emas Shariah Index fell 1.29 points to 12,129.59.
The FBM Mid 70 Index gained 73.13 points to 17,128.18 and the FBM ACE Index rose 22.15 points to 4,950.90.
Sector-wise, the Financial Services Index sank 58.41 points to 19,770.62, the Energy Index edged down 1.73 points to 767.28, the Industrial Products and Services Index inched down 1.33 points to 172.55, and the Plantation Index slumped 12.70 points to 8,291.11.