BURSA Malaysia closed lower yesterday as buying sentiment was dampened by uncertainties ahead of the US Federal Open Market Committee meeting.
The FBM KLCI ended 1.28 points lower at 1,651.71. Overall, losers outpaced gainers by 444 to 333 while 394 counters were unchanged, 519 untraded and 18 suspended.
In a note, Hong Leong Investment Bank Research said selling pressure on Bursa Malaysia prevailed as investors awaited further clues on the timing of the next US interest rate increase. “Meanwhile, sentiment will remain cautious ... we expect the downward consolidation mode to prevail this week with crucial support at the 1,640 level,” it added. – Bernama