KUALA LUMPUR, February 14, 2025 – While global markets experienced mixed movements, Malaysia’s economy showcased resilience on Valentine’s Day, with the FTSE Bursa Malaysia KLCI (FBM KLCI) closing nearly unchanged at 1,591.60 points, down 0.04% from the previous day. The index fluctuated between 1,595.01 and 1,587.58 throughout the trading session.
Market Overview:
Trading activity remained robust as investors reacted to Bank Negara Malaysia’s announcement of Malaysia’s fourth-quarter (Q4 2024) GDP growth, which came in at 5.0%, slightly surpassing the market expectation of 4.8%. The strong economic performance was driven by solid domestic demand, investment activities, and stable household spending.
Top Losers:
- BLD Plantation: -60 sen to RM1.40
- Malaysian Pacific Industries: -52 sen to RM20.72
- Fraser & Neave Holdings (F&N): -48 sen to RM26.22
- CelcomDigi: -33 sen to RM3.54
Top Gainers:
- Heineken Malaysia: +RM1.62 to RM27.60
- Nestlé (Malaysia): +40 sen to RM91.04
- LPI Capital: +30 sen to RM13.90
- PETRONAS Dagangan: +26 sen to RM19.78
Despite the ringgit appreciating 0.48% against the US dollar at 4.4355, investors remained cautious about potential subsidy cuts, which could slightly impact economic growth projections for 2025 (estimated at 4.8%).
Regional Market Performance
Markets across Asia reflected mixed sentiment:
- Nikkei 225 (Japan): -0.79% to 39,149.43
- Hang Seng Index (Hong Kong): +3.69% to 22,620.33
- CSI 300 Index (China): +0.87% to 3,939.01
- Taiex (Taiwan): -1.05% to 23,152.61
- Kospi (South Korea): +0.31% to 2,591.05
- Straits Times Index (Singapore): -0.13% to 3,877.53
FBM KLCI Futures End the Week Lower
In the derivatives market, the FBM KLCI futures closed lower:
- February 2025 contract fell 6.5 points to 1,592.5
- March and June 2025 contracts declined 5.5 points each to 1,573.0 and 1,577.5
- September 2025 contract shed 5.0 points to 1,565.5
Turnover dropped to 4,678 lots from 6,978 on the previous trading day, while open interest declined to 39,750 contracts.
Love in the Air: Valentine’s Day Spending Gives a Boost
Apart from economic updates, Valentine’s Day celebrations added a festive mood to the trading day. Florists, restaurants, and luxury retailers experienced a surge in spending, with reports indicating a 10-15% increase in retail and F&B sales compared to 2024. Jewelers and fine-dining establishments in KLCC, Pavilion KL, and Bukit Bintang saw high foot traffic as couples splurged on romantic gifts and dinner experiences.
Even with the uncertain global economic outlook, consumer confidence in Malaysia appears steady, as evidenced by increased spending on lifestyle and personal luxury goods during this occasion.