Bursa Malaysia ends sharply lower on persistent selling in heavyweights

BURSA Malaysia ended sharply lower today, weighed down by persistent selling in heavyweight stocks, in tandem with the weakness in most regional peers.

Asian shares took their cue from Wall Street’s losses on Friday amidst concerns about the global economic outlook and monetary policy tightening by central banks around the world, said a dealer.

At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 15.79 points to 1,451.52 from Thursday’s close of 1,467.31.

The benchmark index opened 7.80 points lower at 1,459.51, subsequently moving between 1,446.04 and 1,460.91 throughout the session.

On the broader market, losers thumped gainers 706 to 217, while 349 counters were unchanged, 1,101 untraded and 17 others suspended.

Total turnover fell to 2.19 billion units worth RM1.76 bil compared with 2.62 billion units worth RM2.67 bil on Thursday. – Sept 19, 2022

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