Abstract：Bursa Malaysia saw a slight dip on the final trading day of the year as profit-taking and cautious sentiment dominated. The FBM KLCI declined 3.4 points to 1,634.28, with muted turnover of RM822.07 million due to year-end festivities. Blue-chip stocks, including Tenaga Nasional and Telekom Malaysia, experienced declines, while regional markets remained subdued amid global uncertainties. As 2024 approaches, investors remain cautious, balancing risks with potential opportunities.
Bursa Malaysia saw a slight dip on the final trading day of the year as investors engaged in profit-taking, reflecting the cautious sentiment that permeated regional markets. The benchmark FBM KLCI dropped 3.4 points to close the morning session at 1,634.28. Across the broader market, decliners significantly outnumbered gainers, with 505 counters in the red compared to 332 gainers.
Subdued Trading Amid Festive Season
Market activity was notably subdued, a typical trend during the year-end holiday season. Turnover remained low, with 1.33 billion shares traded, valued at RM822.07 million.
Blue-Chip Counters See Profit-Taking
Among the blue-chip stocks, several counters faced notable declines:
- Tenaga Nasional slipped by six sen to RM14.78.
- Telekom Malaysia fell 11 sen to RM6.69.
- Maybank eased four sen to RM10.20.
Gamudas Gains Lose Momentum
Gamuda, which initially saw gains following the announcement of its RM424.4 million acquisition of land in Port Dickson, failed to sustain its upward momentum. The counter closed four sen lower at RM4.74.
Activity in Smaller Counters
In the active counters, mixed performance was observed:
- MUI Properties dropped six sen to 37.5 sen.
- Velocity edged up by 0.5 sen to 4.5 sen.
- Harvest Miracle added 1.5 sen, ending at 15.5 sen.
Regional Markets Reflect Caution
Across Asia, markets remained subdued as investors adopted a cautious approach amid uncertainties surrounding the incoming U.S. administration and its potential impact on global markets.
- Japans Nikkei 225 fell 0.96%, closing at 39,894.
- Chinas Composite Index slipped 0.59% to 3,387.
- Singapores Straits Times dipped 0.21% to 3,787.
- Hong Kongs Hang Seng, however, managed a modest gain of 0.1%, settling at 20,059.
As 2023 gives way to 2024, market participants remain vigilant, keeping an eye on potential risks and opportunities in the new year. The cautious sentiment observed in year-end trading underscores the uncertainty that lies ahead, but also the potential for growth and recovery as markets adapt to evolving conditions.
