KUALA LUMPUR: Bursa Malaysia slid further towards the end of the day as investors remained wary of central bank decisions, economic data and US earnings reports. 

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 12.62 points or 0.78 per cent to 1,611.94 from yesterday's close of 1,624.56. 

The FBM KLCI opened 0.22 points higher at 1,624.78 and fluctuated between 1,611.94 and 1,629.37 during the day. 

On the broader market, losers outnumbered gainers 723 to 306, with 589 counters unchanged. 

Turnover fell to 4.19 billion units worth RM3.11 billion from yesterday's 4.23 billion units worth RM2.89 billion. 

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the tech sector remains a focal point in Malaysian equities ahead of the earnings of the US tech giants.   

He added that the benchmark index had been hovering between the crucial 1,610-1,625 support level for the fourth consecutive day.  

"We hope for a breakout from this range, otherwise, the index will likely consolidate at current level briefly until new catalysts emerge.  

"Should the FBM KLCI break through the 1,630 resistance and hold firmly, we anticipate a stronger upward momentum in the near term," he told Business Times. 

Thong expects the benchmark index to fluctuate within the 1,610-1,630 range for the remainder of the week.

https://www.nst.com.my/business/corporate/2024/07/1083974/bursa-malaysia-slips-investors-still-wary-us-data-decisions