Bursa Malaysia ends lower on lack of buying catalysts on Friday

BURSA Malaysia retreated after two days of gains to end easier on Friday, with the key index falling by 0.65%, on lack of buying interest in large-cap stocks as risk appetite shifted to smaller cap companies, particularly real estate investment trust and energy stocks.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 9.71 points to 1,481.20 from yesterday’s (Dec 1) closing of 1,491.51.

The market bellwether opened 2.15 points easier at 1,489.36 and moved within a narrow range at between 1,479.70 and 1,489.36 throughout the day.

However, market breadth was positive with gainers beating losers 541 to 406, while 416 counters were unchanged, 870 untraded, and 14 others suspended.

Turnover decreased to 3.35 billion units worth RM2.28 bil versus 3.94 billion units worth RM3.07 bil on Thursday (Nov 30). — Dec 2, 2022

Subscribe and get top news delivered to your Inbox everyday for FREE