Bursa Malaysia finished lower on February 3, 2023, due to heightened risk aversion following the US administration's announcement of new tariffs. The FTSE Bursa Malaysia KLCI (FBM KLCI) shed 3.29 points, or 0.21%, to 1,553.63.
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The benchmark index opened 9.36 points lower at 1,547.56 this morning and moved to a low of 1,546.68 during the morning session before hitting a high of 1,556.74 in the afternoon session. “This lack of clarity has increased investors’ concern over how and for how long these tariffs will be enforced. Markets dislike surprises, and such policy uncertainties weigh not only on US equities but also on global capital markets by exacerbating negative sentiments,” he said.“However, we maintain the view that the US will continue to rely on Asia to market its products,” he said.
Among the heavyweights, Petronas Chemicals lost 24 sen to RM4.41, YTL Power International reduced eight sen to RM3.05, Maybank was four sen lower at RM10.30, Sime Darby was seven sen lower at RM2.18, and PPB Group gave up 24 sen to RM11.72. On the broader market, the FBM Emas Index slid 17.65 points to 11,866.06, the FBMT 100 Index trimmed 17.29 points to 11,558.61, and the FBM Emas Shariah Index declined 15.31 points to 11,721.82.
The Main Market volume improved to 1.10 billion units worth RM1.56 billion from 926.01 million units worth RM1.79 billion last Friday.
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