Weak buy­ing sen­ti­ment

The Sun (Malaysia) - - SPEAK UP -

BURSA Malaysia ended lower yes­ter­day on weak buy­ing sen­ti­ment due to lack of fresh do­mes­tic cat­a­lysts and lin­ger­ing volatil­ity in global cap­i­tal mar­kets.

THE FBM KLCI ended at 1,627.63 points, 2.93 points lower. It opened 2.47 points higher at 1,633.03 and moved be­tween 1,624.31 and 1,637.4 dur­ing the day.

On the Bursa score­board, losers out­paced gain­ers 449 to 349 with 346 coun­ters un­changed, 549 un­traded and 16 sus­pended.

Among the heavy­weights, TNB added 4sen to RM14.20, May­bank fell 12 sen to RM7.66, Public Bank de­clined 4 sen to RM19.66 and Petronas Chem­i­cals eased 1 sen to RM6.83.

In a note, Ke­nanga Re­search said the FBM KLCI’s re­bound on Tues­day, un­der­pinned mainly by se­lec­tive buy­ing in qual­ity blue chips, was not sus­tain­able given the low trad­ing vol­ume.

“Over­all, with the lack of fresh do­mes­tic cat­a­lyst and much volatil­ity lin­ger­ing in the global cap­i­tal mar­kets, the FBM KLCI is still ex­pected to be sub­dued this week.

“Down­side sup­ports are lo­cated at 1,620, fol­lowed by 1,600, while re­sis­tance is capped at 1,640 and 1,662,” it added. – Ber­nama

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.