Bursa Malaysia pares earlier losses to end marginally lower ahead state polls

BURSA Malaysia pared most of its earlier losses to end mixed today on late buying, with bargain hunting dominating the broader market throughout the day ahead of the six state elections.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.77 points to 1,457.16 from 1,458.93 at Thursday’s (Aug 10) close.

The barometer index opened 0.46 of-a-point lower at 1,458.47 and hit a low of 1,449.67 during the early morning session. It managed to reverse the losses briefly in late trading and hit an intraday high of 1,458.97 on mild bargain hunting.

On the broader market, gainers overwhelmed decliners 502 to 383, while 428 counters were unchanged, 1,006 untraded and 12 others suspended.

Turnover improved to 2.94 billion units worth RM1.86 bil from 2.92 billion units worth RM1.83 bil yesterday. – Aug 11, 2023


Main photo credit: The Malaysian Reserve

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