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 Malaysian government is considering an increase to the ceiling price of local white rice , currently set at RM2.60 per kg since 2008, in response to an ongoing rice shortage , said Agriculture and Food Security Minister Datuk Seri Mohamad Sabu . With the floor price of paddy rising from RM900 to RM1,300 per tonne, the current price of rice may no longer be sustainable. Mohamad highlighted that industry feedback suggests the current ceiling price is uncompetitive , and discussions with stakeholders are ongoing. A report on cartel activities in the rice and paddy sector, prepared by the Malaysia Competition Commission , will soon be reviewed to aid in comprehensive reforms. The government is also exploring standardized rice pricing across all states , with a detailed study on new adjustments expected soon to ensure stable prices and fair income for rice farmers nationwide.