KUALA LUMPUR, June 13 — Bursa Malaysia retreated from yesterday’s gains to close lower today despite the upbeat regional market performance ahead of the release of the US consumer price index (CPI) data later today.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 6.16 points, or 0.44 per cent, to 1,380.61 from 1,386.77 at yesterday’s close.

The key index opened 0.92 of-a-point firmer at 1,387.69 this morning and moved between 1,378.15 and 1,387.79 throughout the session.

The market breadth was negative as decliners led gainers 466 to 434, while 421 counters were unchanged, 923 untraded, and 12 others suspended.

Turnover increased marginally to 3.08 billion units worth RM1.97 billion versus 3.01 billion units worth RM1.72 billion yesterday.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI was lower today as investors took profit after yesterday’s firm rally.

He said the key regional indices were higher following a positive cue from global equities overnight with strong gains on tech stocks.

Japan’s Nikkei 225 added 1.80 per cent to 33,018.65, Hong Kong’s Hang Seng Index put on 0.60 per cent to 19,521.42, China’s Shenzhen Index rose 0.76 per cent to 10,955,96, while Singapore’s Straits Times Index slipped 0.16 per cent to 3,190.82.

"Investors are eagerly anticipating a temporary break in the US Federal Reserve’s (Fed) highly aggressive tightening campaign, leading the stock market to maintain its bullish momentum.

"Additionally, China’s central bank cuts a short-term policy interest rate, easing its monetary stance to help aid the world’s second-largest economy in its recovery,” he told Bernama.

Thong said despite profit-taking today, investors remained cautiously optimistic amid the improving global market sentiment.

He anticipates the FBM KLCI index to move within the range of 1,375-1,390 for the remainder of the week, with immediate resistance at 1,390 followed by 1,415, and support at 1,373.

Meanwhile, SPI Asset Management managing director Stephen Innes said even though the United States (US) stocks are trading higher on the expectation of the US Fed interest rate pause and softer inflation, Asian markets are not keeping pace with this run.

In addition, he said China’s economy is still struggling, which puts a damper on regional risk, hence, he expected investors could be reticent to push higher this week ahead of China activity data to be released this Friday.

"Still, the bigger and more immediate question comes from today’s US CPI data and how that outcome affects Fed’s reaction.

"In other words, local investors are still worried that US inflation could come in hot and could cause the Fed to hike (interest rate) on Wednesday,” he added.

Among the heavyweights, Maybank shed one sen to RM8.62, Public Bank fell four sen to RM3.81, CIMB decreased three sen to RM4.99, Tenaga Nasional slid 12 sen to RM9.14, and Petronas Chemicals went down 23 sen to RM6.42.

Of the actives, Sarawak Consolidated added 4.5 sen to 37 sen, Bumi Armada increased three sen to 45 sen, but XOX eased half-a-sen to 1.5 sen, Kumpulan Jetson lost 9.5 sen to 33 sen, while Widad was flat at 42 sen.

On the index board, the FBM Emas Index shrank 20.12 points to 10,197.00, the FBMT 100 Index was 21.77 points weaker at 9,892.77 and the FBM Emas Shariah Index trimmed 15.00 points to 10,537.61.

The FBM ACE Index climbed 69.90 points to 5,146.53 and the FBM 70 Index increased 62.60 points to 13,537.67.

Sector-wise, the Industrial Products and Services Index edged down 1.06 points to 158.75, the Plantation Index slipped 39.40 points to 6,718.24, the Financial Services Index declined 20.03 points to 15,199.39, while the Energy Index put on 2.79 points to 780.66.

The Main Market volume slid to 1.95 billion units valued at RM1.68 billion from 1.97 billion units valued at RM1.50 billion yesterday.

Warrants turnover expanded to 377.22 million units worth RM56.52 million against 325.46 million units worth RM45.50 million previously.

The ACE Market volume increased to 750.12 million shares valued at RM227.64 million from 709.24 million shares valued at RM171.07 million yesterday.

Consumer products and services counters accounted for 359.62 million shares traded on the Main Market, industrial products and services (644.03 million); construction (47.12 million); technology (245.46 million); SPAC (nil); financial services (72.50 million); property (138.58 million); plantation (32.21 million); REITs (8.29 million), closed/fund (64,000); energy (180.49 million); healthcare (78.29 million); telecommunications and media (43.40 million); transportation and logistics (48.62 million); and utilities (51.38 million).

Meanwhile, in a filing with Bursa Malaysia today, Bursa Malaysia Securities announced that trading in the securities relating to Boustead Holdings Bhd will be suspended with effect from 9am, Tuesday, June 20, 2023, pursuant to Paragraph 16.02(3) of the Main Market Listing Requirements. — Bernama