Profit-taking weighs on Bursa Malaysia, CI retreats below 1,450

BURSA Malaysia’s key index staged a pullback today for the second day running after having breached the 1,450-level on Wednesday (Oct 26), as profit-taking set in across the broader market.

The local bourse’s lacklustre trading also mirrored the weak regional markets’ performance as investors digested the European Central Bank and Bank of Japan’s interest rates announcements for clues for next week’s US Federal Open Market Committee and Bank Negara Malaysia meetings.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 6.78 points to 1,447.31 compared to Thursday’s (Oct 27) close of 1,454.09.

The key index opened 0.45 of-a-point higher at 1,454.54 and moved between 1,442.04 and 1,456.47 throughout the day.

The broader market was bearish with losers outpacing gainers 450 to 393, while 409 counters were unchanged, 1,117 untraded, and 83 others suspended. — Oct 28, 2022

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