KUALA LUMPUR (Dec 21): Bursa Malaysia ended lower on Thursday on persistent selling pressure mainly in the financial services sector amid a mixed regional market performance.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 0.61% or 8.98 points to 1,455.58 from Wednesday's close of 1,464.56. 

The benchmark index had opened 1.39 points lower at 1,463.17 and moved between 1,454.97 and 1,463.17 throughout the day.

CIMB Group Holdings Bhd slid 10 sen to RM5.80, Hong Leong Bank Bhd fell 48 sen to RM18.98, Public Bank Bhd lost five sen to RM4.27 and Maybank Bhd erased eight sen to RM8.89. These counters dragged the composite index down by a combined 6.62 points.

In the broader market, losers outpaced gainers 434 to 390, while 487 counters were unchanged, 1,004 untraded and 21 others suspended.

Turnover fell to 3.06 billion units worth RM2.09 billion from 3.84 billion units worth RM2.67 billion the previous day. 

SPI Asset Management managing director Stephen Innes said that in the aftermath of the US sell-off, Malaysian markets are seeing declines.

“Investors are likely lessening their risks and taking profits as attention shifts to tomorrow's US personal consumption expenditures [PCE] inflation report.

“The tug-of-war between the Fed [that it’s not ready to cut rates that fast] and market-implied rate cut pricing could be swayed by evidence in the inflation data,” he said.

He said this week's PCE inflation figures hold the crucial key and are likely to steer market dynamics into an upside inflation surprise could challenge the Fed to counter expectations of a rate cut in March.

"In such a scenario, risk assets could rebound, and the year-end rally would likely regain momentum," he added. 

Among other heavyweights, YTL Power International Bhd and Sime Darby Bhd lost five sen each to RM2.48 and RM2.40, while Kuala Lumpur Kepong Bhd was 24 sen higher at RM21.92 and Petronas Chemicals Group Bhd increased three sen to RM7.21.

Of the actives, Leform Bhd and MLABS Systems Bhd put on half a sen each to 41.5 sen and one sen, Top Glove Corp Bhd edged up three sen to 93.5 sen, while TWL Holdings Bhd and Widad Group Bhd were flat at 3.5 sen and 46.5 sen. 

On the index board, the FBM ACE Index improved by 32.71 points to 5,226.58, the FBM 70 Index climbed 38.61 points to 14,586.52, and the FBM Emas Shariah Index advanced 6.42 points to 11,003.1, while the FBM Emas Index declined 40.33 points to 10,818.72 and the FBMT 100 Index trimmed 41.25 points to 10,485.83. 

Sector-wise, the Plantation Index perked 33.65 points to 7,032.2, the Property Index added 3.34 points to 857.93, the Industrial Products and Services Index inched up 0.21 of a point to 172.11, and the Energy Index rose 0.3 of a point to 818.02, while the Financial Services Index slipped 183.88 points to 16,268.07.

The Main Market volume weakened to 1.81 billion units valued at RM1.84 billion against 2.28 billion units valued at RM2.32 billion on Wednesday.

Warrants turnover shrank to 427.1 million units worth RM46.48 million from 596.06 million units worth RM66.46 million previously.

The ACE Market volume narrowed to 727.32 million shares valued at RM208.39 million versus 917.97 million shares valued at RM284.93 million the previous day.

Consumer products and services counters accounted for 239.14 million shares traded on the Main Market, industrial products and services (329.61 million); construction (100.22 million); technology (173.67 million); SPAC (nil); financial services (72.54 million); property (427.15 million); plantation (15.93 million); REITs (7.01 million), closed/fund (10,300); energy (83.23 million); healthcare (219.87 million); telecommunications and media (22 million); transportation and logistics (52.47 million); and utilities (66.04 million).