Investors step aside to prepare for Lunar New Year shopping; Malaysian stocks slip 0.32%

(Kuala Lumpur, Feb 12) — Asian markets closed mixed today, while Malaysian equities edged lower. The FBM KLCI ended at 1,750.85, down 5.54 points or 0.32%.

With Lunar New Year approaching, trading sentiment softened. The index opened at 1,755.09, turned lower after early fluctuations, and briefly slipped below the 1,750 level in the afternoon, hitting an intraday low of 1,748.30 before closing at 1,750.85.

Total market volume reached 2.57004 billion shares with a turnover value of RM2.78675 billion. Across the board, 490 counters rose, 592 fell, and 555 were unchanged.

On the corporate front, Malayan Flour Mills (MFLOUR, 3662) said at midday that its subsidiary, Dindings Poultry Development Centre, will file for judicial review at the High Court over a RM70 million penalty imposed by the Malaysia Competition Commission (MyCC), and will also seek a stay of execution. The company had previously appealed to the Competition Appeal Tribunal (CAT), but the tribunal rejected the appeal yesterday and upheld MyCC’s findings and decision. MFLOUR fell sharply to 61.5 sen, down 3 sen or 4.65%.

Meanwhile, HAWK (HAWK, 0320) announced it had secured a three-year underwater services contract from a Petronas subsidiary, Petronas Chemicals Methanol. The contract runs from Dec 9, 2025 to Dec 8, 2028, but the company noted it is a call-off, as-needed arrangement with no fixed contract value. HAWK rose to 27.5 sen, up 0.5 sen or 1.85%.

Separately, M&E engineering solutions provider Keeming Group (KEEMING, 0392) posted a strong debut on Bursa Malaysia. The stock opened at 79 sen, climbed to an intraday high of 89 sen, and spent much of the session trading between 84 and 85 sen before ending at 87 sen. That represents a premium of 49 sen, or 128.95%, over its IPO price of 38 sen. Volume hit 78.99 million shares, making it the third top gainer and the second most actively traded counter.