KUALA LUMPUR: The home market stayed subdued within the remaining day of buying and selling earlier than Malaysians go to the polls on Saturday.
At 9.05am, the FBM KLCI was down 1.86 factors to 1,446.52.
The broader market sentiment was cautious with 133 counters within the pink in contrast with 83 gainers.
Buying and selling quantity was 117.5 million shares valued at RM108.16mil.
“We reckon that the market tone might keep tepid at the least for the close to time period, as the important thing focus is shifted
in the direction of the end result of the GE15, the place it’s nonetheless unsure which get together is having a lead at this juncture,” mentioned Malacca Securities Analysis in a notice.
Coupled with nervousness over the end result of the Basic Election, the analysis agency mentioned the home market was additionally weighed down by a weaker efficiency on Wall Road in a single day as weaker-than-expected earnings from retail large Goal instructed shoppers had been feeling the pinch of hovering inflation.
On Malaysia’s blue-chip index, PETRONAS Chemical compounds slid six sne to RM8.56, PETRONAS Fuel fell six sne ot RM16.80 and Maxis shed six sen to RM3.75.
Gainers included Maybank up one sen to RM8.52, Public Financial institution rising two sen to RM4.32 and CIMB including two sen to RM5.37.
Amongst actives, Advance Synergy rose one sen to 13 sen, Perdana Petroleum gained 2.5 sen to 11.5 sen and Mui Industries added one sen to 9.5 sen.
For now, Malacca Securities mentioned buyers might favour defensive shares within the shopper, telecommunications and utilities sectors amid elevated market volatility.
“Moreover, shopping for momentum in metal gamers following China’s 16-point plan ought to maintain.
“Because the financial system has been enhancing as proven in our 3Q GDP, we count on broad primarily based restoration might occur after GE15,” it added.
