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Bursa closes broadly lower on low risk appetite
Shares on Bursa Malaysia closed broadly lower today, due to low risk appetite as investors took the cue from the weaker performance in regional and US markets.
The FTSE Bursa Malaysia KLCI (FBM KLCI) finished at 1,778.83, down 25.2 points or 1.4 per cent from from Thursday’s close of 1,804.03.
The benchmark index fluctuated between 1,769.8 and 1,795.89 throughout the session, bogged down by index-linked counters.
Etiqa Insurance & Takaful Bhd head of research Chris Eng said the performance of the local market, which retreated from last week’s gains, was within expectation following last-minute gains registered on Thursday.
“Last week’s sharp rally has led to some profit-taking activities today on selected counters like TNB and Genting.
“However, Bursa Malaysia will rebound later in the month driven by reasonable data on the national gross domestic product as well as corporate earnings,” he said.
Bursa Malaysia was closed yesterday as it was a public holiday in lieu of the Federal Territory Day holiday which fell on Saturday.
On the scoreboard, the Finance Index gave up 120.17 points for 16,288.51, the Plantation Index fell 122.58 points to 8,306.36 and the Industrial Index declined 41.12 points to 3,031.37.
The FBM Emas Index was 164.14 points lower at 12,292.19, the FBMT100 Index lost 167.07 points to 12,008.79, the FBM 70 dropped 177.06 points to 13,583.98 and the FBM Ace decreased 28.98 points to 5,872.35.