KUALA LUMPUR: Bursa Malaysia’s key index extended its decline to close lower yesterday as persistent selling weighed on banking heavyweights, says an analyst.
At 5pm, the FBM KLCI slid 8.88 points or 0.55% to 1,595.19 from Tuesday’s close of 1,604.07.
The benchmark index opened 2.02 points lower at 1,602.05 and fluctuated between an intraday low of 1,588.75 and a high of 1,602.54 throughout the day.
However, market breadth was positive, with gainers outnumbering losers 686 to 427.
Another 474 counters were unchanged, 1,187 were untraded and 12 suspended.
Turnover climbed to 2.9 billion units valued at RM2.33bil compared with 2.79 billion units valued at RM2.77bil previously.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said financial blue-chip stocks dragged the FBM KLCI lower amid concerns over rising US bond yields which stood at 4.99%. — Bernama
