Marginally lower on selective profit-taking
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