Down on persistent selling

SHARES on Bursa Malaysia ended lower on persistent selling in selected heavyweights amid bearish market sentiment.

The FBM KLCI declined 9.67 points to 1,722.47. After opening 1.88 points lower at 1,730.26, the benchmark index moved between 1,722.27 and 1,730.27.

On the technical front, Kenanga Research said while the outlook for the FBM KLCI remained bearish in the shorter term, it does not discount the possibility of a continuation relief rebound rally given improving signals from key momentum indicators.

“Key levels of resistance to look at are 1,760 and 1,790. Conversely, lower support levels can be identified at 1,700 and 1,660,” it said in a note. — Bernama

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