BURSA Malaysia closed lower on Friday due to broad-based selling in tandem with the weaker performance in regional bourses as investors remained cautious over the US’ slowing economic growth and expectations of another rate hike in Japan.

The negative tone today was also affected by the rising geopolitical tension concerns in the Middle East recently.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 13.20 points or 0.81% to 1,611.05 from yesterday’s (Aug 1) close of 1,624.25.

The market bellwether opened 4.94 points lower at 1,619.31 and moved between 1,607.75 and 1,619.31 throughout the day.

On the broader market, losers thumped gainers 1,316 to 155, with 267 counters unchanged, 680 untraded, and 20 others suspended.

Turnover rose to 5.17 billion units worth RM3.98 bil from Thursday’s 3.51 billion units worth RM2.71 bil. - Aug 2, 2024

https://focusmalaysia.my/bursa-malaysia-ends-lower-in-line-with-regional-rout-on-friday/