Bursa Malaysia continues slide as profit-taking persists

BURSA Malaysia closed lower for the sixth consecutive day today in a tight trading range as investors continued profit-taking activities and were reluctant to make significant moves following the technology sell-off on Wall Street last Friday, said an analyst.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was marginally lower by 0.05% or 0.71 of-a-point to 1,589.66 from last Friday’s close of 1,590.37.

The benchmark index opened 0.50 of-a-point weaker at 1,589.87 and moved between 1,582.78 and 1,594.09 throughout the trading session.

The market breadth was negative with decliners outpacing gainers 914 to 302, with 447 counters unchanged, 774 untraded and 24 others suspended.

Turnover decreased to 5.01 billion units worth RM3.78 bil from last Friday’s 5.83 billion units worth RM6.06 bil. – June 24, 2024

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