KUALA LUMPUR, Nov 12 (Bernama) -- Bursa Malaysia extended its losing streak for a fourth consecutive session, closing lower on Thursday amid continued broad-based selling that weighed on market sentiment, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 9.23 points or 0.57 per cent to 1,585.96 from Wednesday's close of 1,595.19. The benchmark index opened 3.61 points lower at 1,591.58 and fluctuated between an intraday low of 1,583.66 and a high of 1,592.89 throughout the day. Market breadth remained negative with losers thumping gainers 799 to 318, while 476 counters were unchanged, 1,181 untraded and 13 suspended. Turnover climbed to 3.06 billion units valued at RM2.56 billion compared with yesterday’s 2.90 billion units valued at RM2.33 billion.
Global stocks advanced, and longer-dated US yields slipped on Monday, kicking off a week filled with earnings reports and central bank meetings. Both the US and Britain may hint at potential interest rate cuts. Key events this week include US jobs data for July, manufacturing surveys, and eurozone GDP and inflation data. Markets are on edge with Big Tech earnings and the Federal Reserve's next moves in focus. Big Tech stocks saw gains but pulled back from earlier highs. Approximately 40% of S&P 500 companies, including Microsoft, Apple, Amazon, and Meta Platforms, will report earnings this week. "The market fears that if Big Tech disappoints, it could drag down the entire market," said Quincy Krosby, LPL Financial’s chief global strategist. The US Treasury will outline its bond sale plans, while China's politburo meeting may introduce more stimulus following last week's surprise rate cuts. Markets anticipate the Federal Reserve will hint at a September rate ...