KUALA LUMPUR, Aug 19 — Bursa Malaysia ended lower today, as elevated United States (US) Treasury yields and weakness in technology stocks weighed on investor sentiment, an analyst said.

However, gains in healthcare and telecommunications stocks provided some support to the broader local market.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.04 points, or 0.12 per cent, to 1,731.32 compared with yesterday’s close of 1,733.36.

The benchmark index opened 1.39 points weaker at 1,731.97, and fluctuated between 1,725.95 and 1,733.44 throughout the day.

On the broader market, losers outpaced gainers 701 to 478, while 563 counters were unchanged, 1,131 untraded and 16 suspended.

Turnover shrank to 3.31 billion units valued at RM2.92 billion from 3.74 billion units valued at RM2.91 billion yesterday.

IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said the weakness in growth stocks was concentrated particularly in technology counters, reflecting renewed pressure on high-valuation stocks as US bond yields moved higher.

He said crude oil prices remained elevated above US$90 per barrel, adding another layer of concern over global inflation and interest rate expectations.

"The 30-year US Treasury yield briefly climbed to 5.336 per cent on Tuesday, its highest level since 2007, before reversing sharply later in the session,” he said.

Meanwhile, for Bursa Malaysia, Mohd Sedek said the combination of elevated US yields and oil prices could continue to weigh on technology and other growth-oriented counters, while the market’s relatively defensive composition may provide some resilience against broader global volatility.

Among the heavyweights, Maybank gained two sen to RM10.64, Public Bank added four sen to RM5.15 and IHH Healthcare increased 15 sen to RM8.30, while CIMB Group lost four sen to RM7.91, and Tenaga Nasional slid two sen to RM14.40.

On the most active list, Zetrix AI climbed two sen to 65.5 sen, JAKS Resources eased one sen to 12 sen, Pentech Holdings perked up 2.5 sen to 31.5 sen, Nexgram Holdings was flat at six sen, and AirAsia Group erased seven sen to 91.5 sen.

As for the top gainers, Batu Kawan and Dutch Lady Milk Industries put on 44 sen each to RM21.00 and RM31.94, respectively, Nestle went up 30 sen to RM104.00, while Malayan Cement and Ayer Holdings garnered 25 sen each to RM6.60 and RM7.50, respectively.

Among top losers, Malaysian Pacific Industries sank RM1.92 to RM46.10. United Plantations slipped 60 sen to RM32.00, Mi Technovation fell 20 sen to RM6.25, while both SD Guthrie and Johor Plantations shed 17 sen to RM6.54, and RM1.88, respectively.

On broader indices, the FBM ACE Index inched up 1.54 points to 5,302.72, the FBM 70 Index fell 77.39 points to 18,134.27, and the FBM Emas Shariah Index declined 31.61 points to 12,635.13.

The FBM Top 100 Index erased 24.67 points to 12,619.87 and the FBM Emas Index dropped 24.96 points to 12,804.74.

By sector, the Industrial Products and Services Index perked up 0.12 of a point to 189.55, the Energy Index eased 0.94 of a point to 777.47, the Plantation Index tumbled 95.52 points to 9,281.15, and the Financial Services Index gave up 15.65 points to 20,292.35.

The Main Market volume slipped to 1.74 billion units valued at RM2.57 billion compared with 2.01 billion units valued at RM2.53 billion yesterday. 

Warrants turnover dwindled to 961.33 billion units worth RM137.63 million versus 1.10 billion units worth RM151.69 million previously.

The ACE Market volume decreased to 607.41 million units valued at RM216.59 million from 631.13 million units valued at RM222.14 million yesterday.

Consumer products and services counters accounted for 235.43 million shares traded on the Main Market, industrial products and services (366.58 million), construction (143.27 million), technology (442.38 million), financial services (65.52 million), property (122.44 million), plantation (72.88 million), real estate investment trusts (14.64 million), closed-end fund (172,100), energy (69.21 million), healthcare (98.22 million), telecommunications and media (24.87 million), transportation and logistics (50.78 million), utilities (38.24 million), and business trusts (13,000). — Bernama