KUALA LUMPUR, Sept 28 (Bernama) -- Bursa Malaysia ended marginally lower on Monday amid selling activity as the market lacked fresh catalysts to spur investors’ buying interest, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.60 points, or 0.09 per cent, to 1,670.02, from Friday’s close of 1,671.62. The benchmark index, which opened 0.93 of-a-point higher at 1,672.55, moved between 1,668.61 and 1,674.11 throughout the trading session. Market breadth was negative as losers surpassed gainers 748 to 388, while 517 counters were unchanged, 1,271 untraded and 91 suspended. Turnover slipped to 3.11 billion units worth RM2.40 billion from 4.07 billion units valued at RM2.69 billion on Friday.
The FBM KLCI fell by 4.78 points or 0.3% as Budget day 2017 draws closer and speculators are looking at a possible early election in the country as well.
The KLCI closed at 1,664.72 points as at closing.
The market has been heading south throughout the day in general with the benchmark falling to as low as 1,661.58 before recovering towards the closing.
There have been speculation that the upcoming budget 2017 in the country will be an election budget, creating anxieties and uncertainties on the initiatives that the government could implement.
Analysts and fund managers are expecting the market to be fluctuating in the short and mid-term according to the report by theedgemarkets.com.
Unlike Malaysia, Asian shares have shown slight recovery.
Bursa Malaysia saw a rather low volume today with 1.49 billion shares traded, worth about RM1.85 billion. British American Tobacco (M) Bhd lead the gainers today while UMW Holdings Bhd is at the other end of the table. Sanichi Technology Bhd was the most active counter today.
The KLCI closed at 1,664.72 points as at closing.
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| FBM KLCI fell by 4.78 pts as Budget day 2017 draws closer |
There have been speculation that the upcoming budget 2017 in the country will be an election budget, creating anxieties and uncertainties on the initiatives that the government could implement.
Analysts and fund managers are expecting the market to be fluctuating in the short and mid-term according to the report by theedgemarkets.com.
Unlike Malaysia, Asian shares have shown slight recovery.
Bursa Malaysia saw a rather low volume today with 1.49 billion shares traded, worth about RM1.85 billion. British American Tobacco (M) Bhd lead the gainers today while UMW Holdings Bhd is at the other end of the table. Sanichi Technology Bhd was the most active counter today.
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