KUALA LUMPUR, Nov 1 — Bursa Malaysia ended the first trading day of November on a negative note on the back of sluggish purchasing managing index (PMI) data in October, recording the 14th consecutive month of contraction, said an analyst.

According to S&P Global Market Intelligence, the latest seasonally adjusted S&P Global Malaysia Manufacturing PMI was unchanged at 46.8 in October, with reports suggesting that firms continued to struggle against the backdrop of demand weakness, both at home and abroad.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) closed 0.47 per cent lower, or 6.81 points, to 1,435.33 from yesterday’s closing of 1,442.14.

The benchmark index opened 0.97 of-a-point lower at 1,441.17 and moved between 1,434.93 and 1,441.59 throughout the trading session.

The broader market was also negative with decliners beating gainers 562 to 319, while 401 counters were unchanged, 1,068 untraded and 14 suspended.

Turnover decreased to 2.79 billion units valued at RM1.79 billion from 2.99 billion units worth RM1.85 billion yesterday.

Apex Securities Bhd head of research Kenneth Leong said, besides that, investors’ cautious sentiment prevailed ahead of the US Federal Reserve (Fed) interest rate decision later today.

The weakness in oil and gas heavyweights was also noticeable as crude oil prices retreated over the past two days.

Looking ahead, the stock brokerage expects the market undertone to extend in view of the unabated volatility across global markets, coupled with the absence of fresh domestic leads.

"Investors will be monitoring developments from the Fed tonight to obtain clues over the interest rate direction. Back home, investors will also keep an eye on Bank Negara Malaysia’s interest rate decision to be announced tomorrow at 3 pm,” he told Bernama.

Technically, Leong said the FBM KLCI has formed a bearish candle as the key index erased all its previous session gains but maintains its course of consolidation between 1,430 and 1,446 levels.

"Should the 1,430 level be unable to hold, near-term support is seen at 1,424. But, if the key index advances beyond 1,446, the resistance is located at 1,464 and 1,488,” he added.

Among heavyweights, Petronas Chemicals lost 20 sen to RM7.14, Press Metal slid 10 sen to RM4.82, Dialog eased nine sen to RM2.06, Hong Leong Bank was down 20 sen to RM19.20, HLFG trimmed two sen to RM17.22, while Maybank was flat at RM9.02.

Of the actives, Classita and Kanger were flat each at 6.5 sen and 12.5 sen respectively, Ageson added 4.5 sen to 7.5 sen, Ranhill rose 15.5 sen to 73.5 sen, and Sarawak Consolidated Industries increased one sen 56 sen.

On the index board, the FBM Emas Index shaved off 57.39 points to 10,581.20, the FBMT 100 Index fell 56.93 points to 10,258.43, and the FBM Emas Shariah Index slid 76.88 points to 10,764.71.

The FBM 70 Index gave up 113.15 points to 13,924.72 while the FBM ACE Index shed 18.89 points to 4,998.52.

Sector-wise, the Industrial Products and Services Index dipped 2.39 points to 170.01, the Plantation Index erased 18.11 points to 6,886.06, the Energy Index eased 10.64 points to 857.65, and the Financial Services Index declined 49.80 points to 16,201.74.

The Main Market volume improved to 1.85 billion units worth RM1.55 billion compared with 1.82 billion units valued at RM1.57 billion yesterday.

Warrants turnover tumbled to 294.17 million units valued at RM45.74 million against 409.72 million units worth RM65.09 million yesterday.

The ACE Market volume dwindled to 643.01 million shares worth RM200.70 million from 749.32 million shares valued at RM215.22 million previously.

Consumer products and services counters accounted for 450.28 million shares traded on the Main Market, industrial products and services (437.48 million); construction (174.77 million); technology (138.00 million); SPAC (nil); financial services (41.98 million); property (188.13 million); plantation (24.75 million); REITs (13.52 million), closed/fund (3,000); energy (97.14 million); healthcare (56.12 million); telecommunications and media (22.93 million); transportation and logistics (66.87 million); and utilities (140.96 million). — Bernama