Shares on Bursa Malaysia end lower

 Publish date: Mon, 22 Oct 2018, 5:28 PM

KUALA LUMPUR: Shares on Bursa Malaysia ended lower today on persistent selling in selected heavyweights amid bearish market sentiment.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 9.67 points to 1,722.47 from Friday’s close of 1,732.14.
After opening 1.88 points lower at 1,730.26, the benchmark index moved between 1,722.27 and 1,730.27 throughout the day.
On the technical front, Kenanga Research said while the outlook for the FBM KLCI remained bearish in the shorter term, it does not discount the possibility of a continuation relief rebound rally given improving signals from key momentum indicators.
“Key levels of resistance to look at are 1,760 and 1,790. Conversely, lower support levels can be identified at 1,700 and 1,660,” it said in a note.
Among Bursa Malaysia's heavyweights, Maybank was flat at RM9.60, Public Bank eased two sen to RM24.98, Tenaga declined six sen to RM14.50 and Petronas Chemicals was one sen lower at RM9.38.
As for actives, MYEG rose 25 sen to RM1.38, Datasonic eased three sen to 45.5 sen and Sapura Energy gained one sen to 34.5 sen.
Market breadth was negative with losers leading gainers 497 to 315, with 354 counters unchanged, 745 untraded and 41 others suspended.
Volume was lower at 1.95 billion units valued at RM1.67 billion from 2.41 billion units valued at RM2.3 billion recorded last Friday.
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