Selling pressure pulls Bursa down 7.5 points

PETALING JAYA: Bursa Malaysia succumbed to late selling pressure, closing 7.54 points lower, on lack of market-moving catalysts. Analysts said sentiment among investors was also hurt by a possible partial shutdown of the US Government if lawmakers do not come to an agreement over the budget.

Locally, the Umno elections and Budget 2014 kept investors cautious on equities. ,In a note to clients, Kenanga Research said based on technicals, it believed the FTSE Bursa Malaysia KLCI (FBM KLCI) was stuck in consolidation mode.