KUALA LUMPUR, May 21 (Bernama) -- Bursa Malaysia ended at its intraday low on Thursday as investor sentiment remained cautious amid ongoing foreign outflows, although the recent weakness may present bargain-hunting opportunities in fundamentally sound blue-chip counters. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 9.33 points, or 0.54 per cent, to 1,708.36, from yesterday’s close of 1,717.69. The benchmark index, which opened 3.74 points higher at 1,721.43, hit an intraday high of 1,722.50 in early trade before losing momentum for the rest of the day. Market breadth was negative, with losers outpacing gainers 656 to 508, while 565 counters were unchanged, 989 untraded and 32 suspended. Turnover fell to 3.49 billion units worth RM3.70 billion compared with 4.15 billion units worth RM4.29 billion on Wednesday.
Summary Copper rebounded sharply on Tuesday after a two-day slump, as the broader metals selloff eased and dip-buying emerged from China , the world’s largest copper consumer. While short-term momentum has softened, longer-term supply constraints are expected to keep prices elevated. What Happened Copper rose as much as 2% to US$13,148.50 per tonne This followed a 15% plunge from last Thursday’s record high Other industrial and precious metals also recovered part of recent losses On the London Metal Exchange , copper was up 0.5% at US$12,951 per tonne , while prices on the Shanghai Futures Exchange jumped 3.6% . Why Prices Rebounded The recovery was driven mainly by renewed buying from China : Investors stepped in after the sharp correction Fabricators and manufacturers restocked ahead of the Lunar New Year (starting Feb 16) Physical demand returned after weeks of staying on the sidelines Why the Rally Has Slo...