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Malaysia property shares hit by weaker broader market sentiment

KUALA LUMPUR (March 26): The Bursa Malaysia property index fell 8.47 points or 0.77% as property shares tracked weaker sentiment across the broader market. 

At 12:30pm, the property index settled at 1,091.54. In the broader market, the Bursa Malaysia small cap index was down 1.25% against the FBM KLCI’s 0.42% drop.

The property index had fallen 11.03% so far this year, compared to the KLCI's 3.37% rise.

MIDF Amanah Investment Bank Bhd analyst Jessica Low said the share price movement of property counters is more of a sentiment nudge, trailing the weaker sentiment across the broader market.

“Property counters are more tied to the prospects of local economies. The impact of [US President Donald Trump's] tariff [plans] should be fairly neutral to the property players,” Low told theedgemarkets.com today. 

At Bursa Malaysia, the property index saw 11 gainers and 37 decliners, while 49 counters were unchanged. Top decliner was Pasdec Holdings Bhd, followed by DPS Resources Bhd. — theedgemarkets.com

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