Bursa Malaysia wraps up 2023 on softer note

KUALA LUMPUR: Bursa Malaysia wrapped up 2023 to close at its intraday low at 1,454,66 today compared to the first-day opening this year at 1,488.54, weighed by persistent selling pressure throughout most part the year due to outflow of funds as a result of various rate hikes in the United States, a dealer said.

Consequently, Rakuten Trade equity research vice-president Thong Pak Leng said the FTSE Bursa Malaysia KLCI (FBM KLCI) fell to its year low of 1,374.64 on June 8, 2023, but the situation improved when foreign funds returned to the country at the beginning of July.