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.
US consumer spending rose slightly less than anticipated in August, indicating a potential moderation in economic growth for the third quarter. However, economic expansion remains likely, as the goods trade deficit narrowed by the largest margin in nearly two years, according to data from the Commerce Department . Consumer spending, which makes up more than two-thirds of US economic activity, increased by 0.2% in August , following a 0.5% rise in July. Economists had expected a 0.3% increase . The spending was mainly driven by services , such as housing, healthcare, and recreation, with a decline in goods spending, especially in motor vehicles and parts . Despite these declines, higher incomes and savings are supporting consumer spending through the rest of the year. Inflation, measured by the Personal Consumption Expenditures (PCE) price index , rose by 0.1% in August , in line with forecasts, marking the smallest annual increase since February 2021. Over the 12 months through Aug...