BURSA Malaysia reversed its early gains to close broadly lower, with over 900 stocks in the red, reflecting the continuous lack of confidence across the market.
The weaker performance was in sync with the downbeat regional market performances, weighed down by cautious sentiment ahead of the release of the US consumer price index (CPI) data later today.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 14.34 points, or 0.91%, to 1,562.12 from Tuesday’s close of 1,576.46.
The FBM KLCI has lost 40.29 points in the last three trading days.
The benchmark index opened 5.87 points higher at 1,582.33 and rose to an intraday high of 1,586.21 in the early session before succumbing to selling pressure to hit an intraday low of 1,558.60 in late trading.
Market breadth was broadly negative, with losers thumping gainers 964 to 193, while 419 counters were unchanged, 799 untraded and 10 others suspended.
Turnover trimmed to 3.40 billion units valued at RM3.08 bil against Tuesday’s 3.45 billion units valued at RM2.72 bil. – Jan 15, 2025