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.
KUALA LUMPUR (Sept 25): The FBM KLCI ended in negative territory for the fifth consecutive trading session today, on continued selling by foreign funds.
The benchmark index ended the day 1.90 points or 0.11% lower at 1769.14.
On the broader market, there were 558 decliners versus 264 advancers, while 412 counters finished unchanged. Some 2.46 billion shares, worth RM2.36 billion were traded.
“There has been unwinding of foreign funds and they have been selling for the past few days,” said Malacca Securities Sdn Bhd senior analyst Kenneth Leong.
“(The decline) is because of profit-taking as well, but only mild, in selective banking companies such as RHB Bank Bhd, Malayan Banking Bhd and AMMB Holdings Bhd,” Leong told theedgemarkets.com when contacted.
Elsewhere in Asia, Japan’s Nikkei 225 close up 0.50%, South Korea's Kospi fell 0.35%, while Hong Kong's Hang Seng decreased by 1.36%.
Reuters reported the Nikkei share average rose as a weaker yen lifted exporters, while expectations of economic stimulus measures, after an election next month supported overall sentiment.
As the end of Japan’s fiscal first half looms on Sept 30 for a majority of listed companies, the market was also underpinned by investors buying up stocks before they go ex-dividend on Wednesday.
Source: The Edge
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