Bursa Malaysia wraps up 2023 on softer note on Friday

BURSA Malaysia wrapped up 2023 to close at its intraday low at 1,454,66 today compared to the first-day opening this year at 1,488.54, weighed by persistent selling pressure throughout most part the year due to outflow of funds as a result of various rate hikes in the US, a dealer said.

Consequently, Rakuten Trade equity research vice-president Thong Pak Leng said the FTSE Bursa Malaysia KLCI (FBM KLCI) fell to its year low of 1,374.64 on June 8, 2023, but the situation improved when foreign funds returned to the country at the beginning of July.

At 5pm today, the FBM KLCI closed 2.75 points or 0.18 per cent lower to 1,454.66 from Thursday’s (Dec 28) close of 1,457.41.

The key index opened 0.16 of-a-point better at 1,457.57 and thereafter moved to a high of 1,461.40 during the early morning session.

In the broader market, losers surpassed gainers 486 to 431, while 453 counters were unchanged, 890 untraded and 45 others suspended.

Turnover went up to 4.67 billion units worth RM2.96 bil from 4.24 billion units worth RM2.39 bil on Thursday. – Dec 29, 2023

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