KUALA LUMPUR: Bursa Malaysia reversed Wednesday’s gains to close at an intraday low yesterday, with the benchmark index easing 0.34% as investors tracked developments in West Asia while remaining cautious amid increasingly conflicting signals from both the United States and Iran over potential peace negotiations.
At 5pm, the FBM KLCI eased 5.79 points to 1,710.89 from Wednesday’s close of 1,716.68.
The market bellwether opened 2.78 points higher at 1,719.46, and reached its highest level of 1,719.89 in early trade.
Market breadth was negative with losers beating gainers 568 to 482.
A total of 569 counters were unchanged, 1,140 untraded and 77 suspended.
Turnover improved to 3 billion units worth RM3.14bil from yesterday’s 2.90 billion units worth RM3.26bil.
IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said oil price dynamics remained the key anchor for market direction.
