Bursa Malaysia Slips As Investors Take Profits Amid Consolidation

Bursa Malaysia closed lower today within a tight trading range as investors took profits while adopting a wait-and-see approach amid a consolidation phase, said an analyst.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) shed 0.39% or 6.34 points to its intraday low of 1,599.79 from Tuesday’s close of 1,606.13.

The FBM KLCI, which opened 2.34 points higher at 1,608.47, hit an intraday high of 1,609.22 in the early morning session.

On the broader market, losers outnumbered gainers 907 to 341, while 451 counters were unchanged, 702 untraded, and nine others suspended.

Turnover narrowed to 5.57 billion units valued at RM4.06 billion from Tuesday’s 5.92 billion units worth RM4.14 billion.

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