KUALA LUMPUR, Dec 2 — Bursa Malaysia retreated after two days of gains to end easier today, with the key index falling by 0.65 per cent, on lack of buying interest in large-cap stocks as risk appetite shifted to smaller cap companies, particularly real estate investment trust and energy stocks.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 9.71 points to 1,481.20 from yesterday’s closing of 1,491.51.

The market bellwether opened 2.15 points easier at 1,489.36 and moved within a narrow range between 1,479.70 and 1,489.36 throughout the day.

However, market breadth was positive with gainers beating losers 541 to 406, while 416 counters were unchanged, 870 untraded, and 14 others suspended.

Turnover decreased to 3.35 billion units worth RM2.28 billion versus 3.94 billion units worth RM3.07 billion yesterday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional markets were also in the negative territory as investors were wary ahead of the US non-farm payroll data due out today.

"Additionally, uncertainty over the direction of US inflation also weighed on investor sentiment.

"Back home, investors are trading cautiously ahead of the announcement of a new Cabinet by Prime Minister Datuk Seri Anwar Ibrahim,” he told Bernama.

Nonetheless, Rakuten Trade believes the valuations of Malaysian equities remained undervalued and this would provide opportunities for investors to bargain for stocks at a lower level.

Meanwhile, Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the FBM KLCI nudged lower on profit-taking after half of the key index components retreated ahead of the announcement of the cabinet line-up later today.

Region-wise, Hong Kong’s Hang Seng Index fell 0.33 per cent to 18,675.35, the Shanghai Composite Index eased 0.29 per cent to 3,156.14, and the Shenzhen Index decreased 0.39 per cent to 11,219.79.

Elsewhere in the region, Japan’s Nikkei 225 dipped 1.59 per cent to 27,777.90 and Singapore’s Straits Times Index shed 0.89 per cent to 3,263.34.

Among heavyweights, Maybank fell four sen to RM8.58, Public Bank slid six sen to RM4.41, Petronas Chemicals slipped 15 sen to RM8.52, CIMB declined 11 sen to RM5.64, and Tenaga went down 12 sen to RM9.38.

Of the actives, Advance Synergy rose 1.5 sen to 19 sen, MQ Technology, Infomina and Malayan United Industries were half-a-sen higher at 5.5 sen, 82.5 sen and 8.5 sen respectively, and Velesto bagged one sen to 16 sen.

Meanwhile, Bursa Malaysia Securities Bhd in a statement today announced that the trading suspension of Comintel Corporation Bhd securities will be uplifted with effect from 9am on Monday, December 5, 2022, to facilitate the listing of the placement shares and the completion of the company’s regularisation plan.

On the index board, the FBM Emas Index decreased 41.27 points to 10,653.20, the FBMT 100 Index fell 48.09 points to 10,357.15, while the FBM Emas Shariah Index was 25.35 points lower at 10,877.91.

The FBM 70 rose 17.92 points to 13,071.19 and the FBM ACE garnered 74.92 points to 5,365.89.

Sector-wise, the Financial Services Index sank 120.44 points to 16,446.42, the Industrial Products and Services Index eased 1.42 points to 181.82, and the Plantation Index dropped 13.44 points to 6,807.85, while the Energy Index added 14.80 points to 800.11.

The Main Market volume decreased to 2.22 billion shares worth RM1.92 billion against 2.36 billion shares worth RM2.49 billion yesterday.

Warrants turnover shrank to 235.54 million units valued at RM39.49 million from 433.85 million units valued at RM74.16 million yesterday.

The ACE Market volume dwindled to 889.48 million shares worth RM320.66 million from 1.15 billion shares worth RM504.39 million previously.

Consumer products and services counters accounted for 498.86 million shares traded on the Main Market, industrial products and services (473.04 million); construction (69.63 million); technology (231.73 million); SPAC (nil), financial services (84.72 million); property (211.83 million); plantation (22.66 million); REITs (10.45 million), closed/fund (39,500); energy (414.35 million); healthcare (92.49 million); telecommunications and media (27.14 million); transportation and logistics (55.21 million); and utilities (28.39 million). — Bernama