Bursa reverses gains on profit-taking FMTNews FMTBusiness
KUALA LUMPUR: Bursa Malaysia reversed from its gains yesterday to trade lower in the early session due to profit-taking, taking its cue from the weaker Wall Street performance overnight, an analyst said.
The research firm said sectors such as utilities and telecommunications may gain traction with investors shifting their focus to defensive stocks. Among the heavyweight counters, Maybank and Public Bank were 1 sen lower at RM8.64 and RM3.92 respectively, Petronas Chemicals shed 9 sen to RM7.11 and CIMB eased 2 sen to RM5.14, while CelcomDigi rose 1 sen to RM4.42.
On the index board, the FBM Emas Index shrank 24.43 points to 10,438.66, the FBMT 100 Index dropped 23.91 points to 10,125.54 and the FBM Emas Shariah Index decreased 28.51 points to 10,778.02.
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