KUALA LUMPUR: Bursa Malaysia's main index closed in the red after briefly gaining in the afternoon, pressured by selling in utility and healthcare stocks.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.20 points or 0.20 per cent to 1,594.29 from Thursday's close of 1,597.49.
The index started the day 1.13 points down at 1,596.36, fluctuating between 1,586.39 and 1,603.59.
On the broader market, decliners outnumbered gainers 539 to 515, while 461 counters were unchanged.
Turnover rose to 3.43 billion units valued at RM3.19 billion versus 2.79 billion units valued at RM2.90 billion yesterday.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI recovered some losses due to strength in banking and plantation sectors.
He added that regional indices also ended mixed, with Tokyo's inflation increase to 2.6 per cent fueling speculation of Bank of Japan rate hikes.
However, he said Chinese and Hong Kong markets rose on better industrial profits, suggesting stabilisation.
"Locally, trading sentiment remained weak as foreign selling weighed on the market," he told Business Times.
He expects the index to stay in consolidation mode, trading sideways within 1,590 to 1,610 next week, as market participants await fresh developments.
https://www.nst.com.my/business/corporate/2024/11/1141473/bursa-malaysia-keeps-downward-trend-selling-pressure-utility
Created by savemalaysia | Dec 10, 2024
Created by savemalaysia | Dec 10, 2024
Created by savemalaysia | Dec 10, 2024
Created by savemalaysia | Dec 10, 2024
Created by savemalaysia | Dec 10, 2024
Created by savemalaysia | Dec 10, 2024