KUALA LUMPUR: Bursa Malaysia saw its fourth consecutive day of decline, with profit-taking dragging the key index to close below the 1,600 mark.

Selling pressure was seen in most sectors including construction, telecommunications, utilities, and energy.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 0.44 per cent or 7.10 points to 1,592.69 from Wednesday's close of 1,599.79.

The benchmark index opened lower at 1,596.27, down 3.52 points from its previous close. 

It reached an intraday high at the opening and dipped to a low of 1,590.37 during the early morning session.

On the broader market, decliners outnumbered gainers 816 to 352, with 447 counters unchanged.

Turnover fell to 5.03 billion units worth RM3.42 billion from Wednesday's 5.57 billion units valued at RM4.06 billion.

In a note today, Malacca Securities Research said the FBM KLCI was dragged by selling pressure in the utilities and telco heavyweights.

The firm said this was because investors took the negative cue from the regional markets today as China and Hong Kong markets traded lower today.

However, it said the construction sector (-1.50%) was the worst performing sector today. 

"While, the plantation sector gained momentum led by SD Guthrie Bhd (+2.0 sen) and United Plantations Bhd (+10.0 sen)," it noted.

VS Industry Bhd ended the trading day as the most active stock, closing five sen higher at RM1.20.

Meanwhile, the top gainer was United Plantations, adding 10 sen to RM23.80.

On the losing end was Sunway Construction Group Bhd, which shed 16 sen to RM3.79.

https://www.nst.com.my/business/corporate/2024/06/1066127/bursa-malaysia-posts-fourth-consecutive-day-decline-key-index