KUALA LUMPUR, Oct 4 — Bursa Malaysia ended the week on a low note, weighed down by continuous selling in selected heavyweights, led by telecommunications and media counters, due to emerging concerns over global economic uncertainties.

Maxis and CelcomDigi led the retreat, losing 22 sen and 9.0 sen to RM3.65 and RM3.62, respectively, erasing a combined 4.70 points off the local benchmark index.

The FTSE Bursa Malaysia KLCI (FBM KLCI) declined 11.58 points from Thursday’s close, settling at 1,629.97.

The market bellwether opened 3.06 points lower at 1,638.49 and moved between 1,625.35 and 1,639.29 throughout the day.

On the broader market, decliners outpaced gainers 610 to 410, with 514 counters unchanged, 874 untraded and 16 suspended.

Turnover slipped to 3.10 billion units valued at RM2.67 billion from Thursday’s 3.29 billion units worth RM2.52 billion.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI remained in negative territory throughout the day as investor sentiments were affected by escalating tensions in the Middle East.

“Trading volumes were below average as the cautious mode prevailed across the local market with geopolitical risks keeping buyers on the sidelines. The lack of significant buying momentum saw the index move in a narrow range, reflecting the broader market’s hesitation to take positions amid global uncertainties.

“Regionally, Hong Kong’s Hang Seng continued its upward trend, supported by optimism surrounding China’s ongoing stimulus measures,” he told Bernama today.

Mohd Sedek Jantan, the head of investment research at UOB Kay Hian Wealth Advisors, noted that the benchmark index is grappling with a complex mix of economic uncertainty, geopolitical threats, and the looming potential for a rebound in the Chinese market following last week’s announcement of a stimulus package.

“During a turbulent trading session, yesterday’s rebound quickly dissipated, ultimately dragging the index into negative territory.

“Weak buying interest and escalating geopolitical risks intensified the decline, as investors shifted their focus towards Hong Kong shares, buoyed by optimism over China’s recent measures,” he said.

Meanwhile, among other heavyweights, Maybank and Public Bank slipped 4.0 sen each to RM10.50 and RM4.53, respectively, CIMB Group fell 7.0 sen to RM7.92 and IHH Healthcare went down 2.0 sen to RM7.22, while Tenaga Nasional was flat at RM14.28.

Of the active stocks, Capital A slipped 4.5 sen to 86.5 sen, OCR Group shed 1.0 sen to 3.5 sen and Bina Puri eased half-a-sen to 36 sen, while Bumi Armada added 2.0 sen to 50 sen. — Bernama