KUALA LUMPUR, July 28 — Bursa Malaysia closed marginally lower today as investors turned cautious ahead of a busy week featuring the US Federal Reserve’s (Fed) policy meeting and earnings releases from major US technology companies.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 0.61 of a point or 0.04 per cent to 1,712.48 from yesterday’s close of 1,713.09.

The benchmark index, which opened 1.14 points weaker at 1,711.95, moved between 1,703.83 and 1,715.02 during the day’s trading.

In the broader market, decliners outstripped gainers 717 to 348, while 536 counters were unchanged, 1,179 untraded, and 36 suspended.

Turnover rose to 2.94 billion units valued at RM2.56 billion from 2.86 billion units valued at RM2.24 billion on Monday.

IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said trading activity was subdued as market participants awaited greater clarity on the Fed’s interest rate outlook and whether second quarter earnings from the technology sector can sustain the global artificial intelligence (AI)-driven rally.

Among companies in the tech sector are Meta Platforms Inc, Microsoft Corporation, Amazon.com Inc and Apple Inc.

“Despite Brent crude oil prices falling more than two per cent, reflecting easing geopolitical concerns and improved supply expectations, it failed to lift market sentiment as investors preferred to remain on the sidelines,” he told Bernama.

Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said there was subdued buying interest today in line with weaker regional markets as investors reassessed the outlook for AI investments.

“Concerns intensified after reports that Nvidia’s AI financing commitments had reportedly exceeded US$750 billion, raising questions whether AI demand can keep pace with the industry’s aggressive spending plans.

“The news triggered a broad sell-off in global semiconductor stocks, weighing on overall market sentiment across the region,” he said.

Among the heavyweights, CIMB fell four sen to RM7.76, while Public Bank rose one sen to RM5.19, Tenaga Nasional gained 20 sen to RM14.66, and Maybank as well as IHH Healthcare remained flat at RM10.90 and RM8.34, respectively.

As for the active stocks, VS Industry slipped one sen to 22 sen, SNS Network Technology and Dagang Nexchange lost two sen each to 54 sen and 43 sen respectively, Tanco added 1.5 sen to 26 sen, and Zentrix AI inched up half a sen to 69 sen.

Among the top gainers, Nestle firmed RM2.36 to RM93.66, Ideal Capital jumped 25 sen to RM4, KLCC Property and REITS surged 15 sen to RM8.84, Hong Leong Bank climbed 20 sen to RM22.30, and Dutch Lady Milk Industries added 18 sen to RM32.

Malaysian Pacific Industries led the top losers list, falling RM2.06 to RM44, while UMS Integration dropped 68 sen to RM7.22, Fraser & Neave lost 34 sen to RM27.50, Kelington sank 31 sen to RM7.90, and Allianz slumped 30 sen to RM21.00.

Among the broader indices, the FBM Emas Index fell 21.46 points to 12,641.72, the FBMT 100 Index notched down 15.28 points to 12,476.39, the FBM Mid 70 Index decreased 68.16 points to 17,901.86, the FBM Emas Shariah Index reduced 29.33 points to 12,457.53, and the FBM ACE Index eased 32.58 points to 4,866.29.

By sector, the Energy Index trimmed 5.92 points to 763.42, the Industrial Products and Services Index edged down 1.37 points to 185.47, and the Plantation Index gave up 52.92 points to 9,231.59.

However, the Financial Services Index gained 13.79 points to 20,254.46.

The Main Market volume declined to 1.51 billion units valued at RM2.27 billion compared to 1.53 billion units valued at RM1.96 billion on Monday.

Warrants turnover expanded to 978.15 million units worth RM126.23 million versus 868.06 million units worth RM144.18 million previously.

The ACE Market volume shrank to 452.85 million units valued at RM159.81 million from 461.04 million units valued at RM157.34 million yesterday.

Consumer products and services counters accounted for 121.07 million shares traded on the Main Market, industrial products and services (365.30 million), construction (78.52 million), technology (350.11 million), financial services (70.75 million), property (204.60 million), plantation (23.02 million), real estate investment trusts (27.68 million), closed-end fund (188,100), energy (101.63 million), healthcare (69.40 million), telecommunications and media (20.76 million), transportation and logistics (53.95 million), utilities (23.49 million), and business trusts (196,100). — Bernama