Profit-taking emerges

BURSA Malaysia reversed course to end lower on profit-taking yesterday as traders remained cautious over a slight decrease in crude oil prices. The FBM KLCI fell 6.17 points or 0.37% to 1,624.21. Market breadth was negative with 452 losers and 302 gainers, while 344 counters were unchanged, 633 untraded and 42 suspended.

A dealer said the local bourse was influenced by global market trends as traders were reluctant to take risks on uncertainty over Opec’s planned oil output cut.

The losers list was led by BAT, which was down 64 sen to RM43.86; Nestle, 50 sen to RM77; Panasonic, 42 sen to RM35.48; Dutch Lady, 26 sen to RM56.24; and Lafarge, 24 sen to RM7.56. – Bernama