As of January 13, 2025, the FTSE Bursa Malaysia KLCI (FBM KLCI) faced continued pressure, reflecting weak sentiment across the market. The index tumbled by 16.82 points or 1.05% to close at 1,585.59, recovering slightly from an intraday low of 1,578.97. All indices on Bursa Malaysia ended in negative territory, except for the Bursa Malaysia Energy Index. (thestar.com.my)
In the broader market, 913 stocks declined while only 211 stocks advanced, resulting in a market breadth of 0.23, indicating that bears maintained control. The traded volume was 2.85 billion shares, with a value of RM2.54 billion. (thestar.com.my)
Top Losers and Gainers:
- Losers:
- Nestle: Dropped RM2.50 to RM92.50.
- BLD Plantation: Down 70 sen to RM11.28.
- Malaysian Pacific Industries: Lost 50 sen to RM23.46.
- F&N: Fell 32 sen to RM26.68.
- Gainers:
- Hong Leong Industries: Added 38 sen to RM13.28.
- PETRONAS Dagangan: Rose 6 sen to RM19.26.
- Perstima: Gained 15 sen to RM2.30.
- Hibiscus Petroleum: Climbed 8 sen to RM2.03. (thestar.com.my)
Regional and Global Markets:
- Hong Kong’s Hang Seng index dropped 1% to 18,874.14.
- South Korea’s Kospi ended 1.04% lower at 2,489.56.
- China’s CSI 300 index declined 0.27% to 3,722.51, and the Shanghai Composite index slid 0.25% to 3,160.76 points.
- Japan’s markets were closed for a public holiday. (thestar.com.my)
Broader Insights:
The overall trend for FBM KLCI remains bearish, with technical indicators signaling an oversold market. The Relative Strength Index (RSI) stood at 28.462, and moving averages across multiple periods reflected a ‘Sell’ sentiment. (investing.com)
The energy sector showed resilience amid the decline, as seen in the Bursa Malaysia Energy Index’s positive performance. Despite external market weaknesses in Hong Kong, South Korea, and China, select local stocks, particularly in energy and select consumer sectors, managed to post gains.
For further developments, it’s advisable to monitor both local market conditions and global economic influences that may affect investor sentiment. (thestar.com.my, investing.com)