Heavy­weight sell­ing

The Sun (Malaysia) - - SPEAK UP -

BURSA Malaysia ended lower in range-bound trad­ing yes­ter­day with sell­ing seen in most heavy­weights led by Ax­i­ata, Sime Darby and Gent­ing, deal­ers said.

The FBM KLCI fell 16.20 points, or 0.97%, to end at 1,647.62.

Over­all, losers led gain­ers 807 to 165 while 265 coun­ters closed un­changed, 435 un­traded and 24 oth­ers were sus­pended.

Mer­cury Se­cu­ri­ties Sdn Bhd re­search head Ed­mund Tham said the lo­cal and global bourses were jit­tery as they were shocked by the vic­tory of Repub­li­can Don­ald Trump in the US pres­i­den­tial elec­tion over Demo­cratic can­di­date Hil­lary Clin­ton.

“The mar­ket is ex­pected to re­main range-bound for the next few days, trad­ing within 1,640 to 1,648 points.

“We don’t think the mar­ket will drop much. Although the mar­ket is slightly over­val­ued, most in­vestors are not will­ing to sell their stocks and they are also not into buy­ing at the mo­ment ei­ther,” he said. – Ber­nama

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