Bursa Malaysia ends lower on profit-taking

KUALA LUMPUR: Bursa Malaysia closed lower on the first day of the trading week weighed by profit-taking in heavyweights, particularly Tenaga Nasional Bhd and banking sectors, says an analyst.

At 5pm, the FBM KLCI fell 0.73% or 11.98 points, to close at 1,609.26 compared with last Friday’s close of 1,621.24.

The benchmark index, which opened 4.39 points higher at 1,625.63, moved between 1,609.24 and 1,627.23 during the trading session. Market breadth was negative with decliners thumping gainers 685 to 357, while 480 counters were unchanged, 885 untraded and 15 suspended.

The sell-off is seen as an opportunity for bargain-hunting in beaten-down stocks. — Bernama