Bursa Malaysia Declines For Second Day On Weak Sentiment
KUALA LUMPUR, July 22 (Bernama) -- Bursa Malaysia closed 0.34 per cent lower on Tuesday, marking its second straight day of decline, as the lack of buying support and absence of strong cues from key regional indices continued to weigh on sentiment.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) erased 5.19 points to 1,519.40 from yesterday's close of 1,524.59.
The benchmark index opened 1.70 points higher at 1,526.29 at the opening bell and moved between 1,518.75 and 1,527.90 throughout the trading session.
The market breadth was negative, with 591 losers overtaking 412 gainers and 472 counters unchanged, while 1,004 were untraded and seven suspended.
Turnover fell to 2.82 billion shares worth RM2.05 billion from 3.5 billion shares worth RM2.68 billion on Monday.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI trended lower due to the lack of buying support as most key regional indices ended in negative territory amid cautious trading ahead of the Aug 1 deadline for potential US trade tariffs.
'Investors are wary of various external factors given the increasing regional market volatility and uncertainties on global economic prospects.
'We reckon the short-term outlook to remain jittery although bargain hunting may prevail, hence, we expect the FBM KLCI to trend range-bound hovering within 1,510-1,540 for the remainder of the week with immediate support at 1,510 and resistance at 1,530,' he told Bernama.
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