Marginally lower on se­lec­tive profit-tak­ing

The Sun (Malaysia) - - MEDIA & MARKETING -

BURSA Malaysia ended marginally lower yes­ter­day on mild profit-tak­ing in se­lected heavy­weights, de­spite the mostly higher Asian bourses, deal­ers said.

The FBM KLCI closed at 1,670.93, down 1.53 points. The com­pos­ite in­dex moved be­tween 1,670.88 and 1,673.90 points dur­ing the day.

Among the heavy­weights, May­bank shed 4 sen to RM7.86, Petronas Chem­i­cals eased 2 sen to RM6.98 and Sime Darby fell 13 sen to RM8.06. How­ever, TNB rose 6 sen to RM14.40 and Pub­lic Bank gained 14 sen to RM20.

A dealer said re­gional sen­ti­ment was mostly pos­i­tive as the in­crease in oil prices and bet­ter Chi­nese man­u­fac­tur­ing data brought some op­ti­mism to in­vestors.

Oil prices rose from one-month lows af­ter the Or­gan­i­sa­tion of Pe­tro­leum Ex­port­ing Coun­tries agreed on a long-term strat­egy of cut­ting pro­duc­tion, while China’s man­u­fac­tur­ing ac­tiv­ity grew at the fastest pace in more than two years in Oc­to­ber.

How­ever, he said, in­vestors re­mained cau­tious ahead of next week’s US pres­i­den­tial elec­tion.

“The mar­ket is also watch­ing the out­come of the US Fed­eral Re­serve’s Fed­eral Open Mar­ket Com­mit­tee meet­ing be­gin­ning on Tues­day, as in­vestors look for clues on a De­cem­ber rate hike,” he added. – Ber­nama

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