BURSA Malaysia bucked the regional trend to end the week sharply lower due to broad-based selling, said Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng.
With the key index falling 1.10 per cent, investors exercised caution due to global inflation concerns, fueled by elevated crude oil prices and the looming US government shutdown.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 15.94 points to 1,424.17 to mark its intraday low from Wednesday’s (Sept 27) close of 1,440.11.
The benchmark index, which opened 3.72 points easier at 1,436.39, hit an intraday high of 1,436.97 in the morning session before succumbing to selling pressure in late trading.
On the broader market, decliners beat gainers 578 to 379 while 438 counters were unchanged, 990 untraded and 98 others suspended.
Turnover increased to 3.03 billion units worth RM2.43 bil from 2.97 billion units worth RM1.94 bil on Wednesday. – Sept 29, 2023
