PETALING JAYA: Bursa Malaysia’s main index finished lower yesterday as selling by foreign funds persisted, amid the better performance in most regional markets.
At 5pm, the FBM KLCI fell 8.84 points, or 0.55%, to 1,582.76 compared with last Friday’s close of 1,591.60.
The benchmark index opened 0.88 of-a-point higher at 1,592.48, marking its intraday high, and subsequently slid to a low of 1,580.94 during the mid-afternoon session.
In the broader market, losers thumped gainers 715 to 313, while 465 counters were unchanged, 815 untraded and 10 suspended.
Turnover shrank to 2.98 billion units worth RM1.95bil from 3.27 billion units worth RM2.40bil last Friday.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI closed lower for the third consecutive day, with losses led by the telecommunications and utilities sectors.
“Despite the weaker local market, Asian equities edged higher yesterday, fuelled by a strong performance in Hong Kong’s technology sector, with continued investment following the surge in interest after DeepSeek.
“However, with the earnings season underway, Alibaba and Baidu are set to report their results this week, which could provide insights into the potential of artificial intelligence-driven revenue growth,” he told Bernama.
Meanwhile, Mohd Sedek said robust economic growth data from Japan contrasted with the weak US retail sales, boosting the yen against the dollar.
Rakuten Trade Sdn Bhd’s vice-president of equity research Thong Pak Leng said the local benchmark index was hovering near the 1,580 support level, posing a risk of further weakness.
“We anticipate the FBM KLCI to fluctuate within the 1,570-1,600 range this week,” he said.
