Bursa snaps recent rally, tracks key markets lower

KUALA LUMPUR: Bursa Malaysia closed lower on Monday, snapping last week’s rally, in line with key Asian markets as investors worried about more countries imposing lockdowns, rising death toll while no end was in sight for a Covid-19 vaccine.

At 5pm, the FBM KLCI was down 14.21 points or 1.06% to 1,328.88. Turnover fell to 2.83 billion shares valued at RM1.86bil. There were 305 gainers, 511 losers and 302 counters unchanged.

The recent rebound was fuelled by local institution buying which absorbed the selling pressure by foreign funds and profit taking by retail investors.