KUALA LUMPUR: Bursa Malaysia closed lower today as investors locked in profits ahead of the long weekend and the release of US inflation data later tonight.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 11.95 points, or 0.75%, to 1,575.12 from Thursday’s close of 1,587.07.
The index opened 0.24 of-a-point lower at 1,586.83 and moved between 1,572.24 and 1,587.30 throughout the day.
On the broader market, decliners trounced advancers 704 to 324, while 469 counters were unchanged, 1,100 untraded and 66 suspended.
Turnover improved to 3.08 billion units worth 3.16 billion ringgit from 2.92 billion units worth 2.92 billion ringgit on Thursday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI slid today as investors locked in profits due to the long weekend despite the strong performance across the region.
“The benchmark index remains in a short term consolidation phase this week, trading within a range of 1,574-1,602. Although the index attempted to break through the 1,600 level, the move lacked strength.
“A decisive breakout with strong volume is needed to confirm renewed upside momentum, potentially opening the path toward 1,620–1,650 zone. However, failure to clear this barrier convincingly may trigger profit-taking instead,” he told Bernama.
The US Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s (Fed) favoured gauge of inflation, will be released later tonight.
This data is closely monitored as it serves as a key guide for the Fed’s decision on interest rates.
On the home front, heavyweights Maybank shaved 5.0 sen to 9.90 ringgit, Public Bank edged down 1.0 sen to 4.27 ringgit, CIMB Group slid 2.0 sen to 7.43 ringgit, Tenaga Nasional sank 24 sen to 13.20 ringgit, while IHH Healthcare was flat at 6.79 ringgit.
For the most active counters, Genetec Technology tumbled 12.5 sen to 51 sen, Tanco Holdings eased 2.0 sen to 70.5 sen, and Reneuco and Zetrix AI shed 1.0 sen to 1.5 sen and 86 sen respectively, while Sime Darby added 12 sen to 2.07 ringgit. – Bernama
