At 5pm, the FBM KLCI fell 3.14 points, or 0.19% to 1,642.54 from Monday’s close of 1,645.68.
PETALING JAYA: Bursa Malaysia ended in negative territory yesterday as it continued its consolidation phase due to a lack of buying catalysts.
At 5pm, the FBM KLCI fell 3.14 points, or 0.19% to 1,642.54 from Monday’s close of 1,645.68.
The benchmark index opened 1.78 points higher at 1,647.46 and moved between 1,642.35 and 1,648.31 throughout the day.
On the broader market, decliners surpassed advancers 509 to 460, with 540 counters unchanged, 972 untraded and 13 suspended.
Turnover declined to 2.67 billion units valued at RM2.49bil versus 3.02 billion units valued at RM2.19bil on Monday.
UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said investors are recalibrating their views on the full details of Budget 2025 while preparing for the upcoming US earnings season.
“The performance was also influenced by US stocks, which retreated slightly from their record highs on Monday, as some of the momentum in Wall Street’s extended rally began to fade,” he told Bernama.
In morning trade, the FBM KLCI touched 1,648, driven by gains in telecommunications, financial, and consumer stocks.
Additionally, the technology sector also posted strong growth with the Bursa Malaysia Technology Index rising for five consecutive days.
Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said Asian stocks also finished lower following a negative cue from Wall Street as investors remained cautious due to ongoing uncertainty over interest rates and the US presidential election.
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