Bursa ends lower, in line with weak regional performance FMTNews FMTBusiness
KUALA LUMPUR: Bursa Malaysia ended lower today, in line with regional markets after Wall Street fell overnight as fears over a banking crisis in the US resurfaced, an analyst said.
The market breadth was negative with decliners leading gainers 473 to 349, while 414 counters were unchanged, 1,058 untraded and 25 others suspended. “Meanwhile, investors expect the US Federal Reserve to raise interest rates at least one more time next week before pausing. On the domestic front, we believe today’s selldown offers opportunities to bargain hunt stocks at a lower level.
Among the 30 heavyweight counters, only two stocks advanced, namely, Petronas Dagangan which gained 26 sen to RM22.40, and Telekom Malaysia, which added three sen to RM4.97.Maybank and Public Bank lost 4 sen each to RM8.61 and RM3.89, respectively, while Petronas Chemicals fell 5 sen to RM7.15. On the index board, the FBM Emas Index narrowed 71.02 points to 10,392.08, the FBMT 100 Index dropped 71.77 points to 10,077.68 and the FBM Emas Shariah Index decreased 55.76 points to 10,750.77
The Main Market volume rose to 1.73 billion units valued at RM1.43 billion from 1.72 billion units valued at RM1.30 billion on Tuesday.
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