Rakuten Trade is cautiously maintaining an optimistic outlook for the local market.
KUALA LUMPUR: Bursa Malaysia closed on a weaker note yesterday in tandem with the downbeat regional market performance as investors took profits amid the global sell-off, according to Rakuten Trade Sdn Bhd.
At 5pm, the FBM KLCI shaved off 8.54 points, or 0.52%, to 1,621.14 from Tuesday’s close of 1,629.68.
The key index opened 1.63 points higher at 1,631.31, to mark its intraday high and hit a low of 1,619.71 before the midday session.
On the broader market, losers surpassed gainers 773 to 341, with 487 counters unchanged, 870 untraded, and six others suspended.
Turnover slid to 4.39 billion units worth RM2.80bil from Tuesday’s 5.11 billion units worth RM3.59bil.
Rakuten Trade equity research vice-president Thong Pak Leng said most key regional indices were also in negative territory following a lacklustre performance on Wall Street overnight, due to weak earnings from the US technology giants Tesla and Alphabet,” he told Bernama.
Rakuten Trade is cautiously maintaining an optimistic outlook for the local market despite the escalating volatility in global equities.
