KUALA LUMPUR, June 11 — Bursa Malaysia ended broadly lower across the board today, down 1.14 per cent, in line with regional peers after the Federal Reserve’s (Fed) dovish statement yesterday undermined recent market optimism.

The Fed had signalled the interest rates to remain at the current level until 2022, while projecting a gloomy economic outlook, dealers said.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 8.02 points to end the day at 1,557.25  from yesterday’s close of 1,575.27.

The index opened 2.38 points better at 1,577.65 and hovered between 1,550.90 and 1,586.22 throughout the trading session.

The overall market breadth was negative with decliners thumping gainers 928 to 264, while 322 counters were unchanged, 395 untraded and 20 others suspended.

Total volume increased to 9.16 billion shares worth RM5.91 billion from 7.60 billion shares worth RM4.71 billion yesterday.

Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the Fed’s recent decision to keep rate steady until 2022 also suggested that the economic uncertainties were very much visible.

Locally, he said the FBM KLCI correction was expected today as the index level had been hovering at an overbought region while the price-earnings multiples were also quite stretch.

Malaysia’s Industrial Production Index (IPI) released today, which recorded an all-time low of 32 per cent in April, had also resulted in jittery in the markets, he told Bernama.

“Investors are reassessing the situation whether the equities may have gotten ahead of itself but in any case, the correction should be healthy as the market try to reflect the current reality.

“The reality is the reopening of the economy is still gradual, there is no (Covid-19) vaccines and therefore, we are not completely out of the woods yet,” he added.

Regionally, Japan’s Nikkei decreased 2.82 per cent to 22,472.91 and Singapore’s Straits Times dropped 3.45 per cent to 2,704.06 and Hong Kong’s Hang Seng Index fell 2.27 per cent to 24,480.15.

Among the heavyweights, Maybank fell 12 sen to RM8.08, Public Bank declined 10 sen to RM17.24,  Petronas Chemicals reduced 20 sen to RM6.70, IHH Healthcare shed 10 sen to RM5.47, while Tenaga was flat at RM11.96.

Of the most actives, AT Systematization improved 3.5 sen to 16 sen, Luster Industries and Minetech Resources added 1.5 sen each to 11.5 sen and 25 sen, respectively, Connectcounty gained nine sen to 30 sen while Pegasus was flat at one sen.

On the index board, the FBM Emas Index dropped 141.81 points to 10,961.71, the FBM Emas Shariah Index was down 138.56 points at 12,374.0 and the FBM 70 fell 182.43 points to 13,520.30.

The FBM ACE declined 159.04 points to 5,836.51 and the FBMT 100 Index decreased 130.08 points to 10,821.17.

Sector-wise, the Industrial Products and Services Index eased 3.45 points to 138.11, the Financial Services Index dwindled by 200.02 points to 13,647.34 and the Plantation Index shed 24.12 points to 6,812.54.

Main Market volume rose to 5.29 billion shares worth RM4.90 billion from 4.38 billion shares worth RM3.84 billion yesterday.

Warrants turnover increased to 849.27 million units valued at RM262.14 million from 515.51 million units worth RM125.66 million.

Volume on the ACE Market climbed to 3.01 billion shares worth RM742.52 million from 271.11 billion shares worth RM741.39 million yesterday.

Consumer products and services accounted for 819.59 billion shares traded on the Main Market, industrial products and services (1.26 billion), construction (538.67 million), technology (589.59 million), SPAC (nil), financial services (74.06 million), property (623.12 million), plantations (130.70 million), REITs (8.41 million), closed/fund (14,500), energy (761.88 million), healthcare (130.94 million), telecommunications and media (152.44 million), transportation and logistics (161.81 million), and utilities (46.73 million). — Bernama