BURSA Malaysia ended the first trading of November on a negative note on the back of sluggish purchasing managing index (PMI) data in October that recorded 14th consecutive months of contraction, said an analyst.
According to the latest S&P Global, the seasonally adjusted Malaysia Manufacturing PMI was unchanged at 46.8 in October, with reports suggesting that firms continued to struggle against the backdrop of demand weakness, both at home and abroad.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) closed 0.47% lower, or 6.81 points, to 1,435.33 from Tuesday’s (Oct 31) closing of 1,442.14.
The benchmark index opened 0.97 of-a-point lower at 1,441.17 and moved between 1,434.93 and 1,441.59 throughout the trading session.
The broader market was also negative with decliners beating gainers 562 to 319, while 401 counters were unchanged, 1,068 untraded and 14 suspended.
Turnover decreased to 2.79 billion units valued at RM1.79 bil from 2.99 billion units worth RM1.85 bil yesterday. – Nov 1, 2023
