Bursa Malaysia Ends Flat Amid Cautious Sentiment, Mixed Domestic Developments
By Harizah Hanim Mohamed
KUALA LUMPUR, July 21 (Bernama) -- Bursa Malaysia ended almost flat on Monday, with the key index slipping 0.08 per cent, reflecting cautious market tone amid mixed domestic developments and bucking the broader regional trend.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) erased 1.27 points to 1,524.59 from last Friday's close of 1,525.86.
The benchmark index was 0.60 of a point better at 1,526.86 at the opening bell and moved between 1,520.02 and 1,526.46 throughout the trading session.
The market breadth was negative, with 607 losers overtaking 342 gainers and 504 counters unchanged, while 1,014 were untraded and seven suspended.
Turnover improved to 3.5 billion shares worth RM2.68 billion from 3.18 billion shares worth RM2.81 billion on last Friday.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said upbeat sentiment was seen across Asia, however, selling pressure continued to persist across emerging markets.
'We believe investor funds are rotating into Hong Kong and Chinese equities. Locally, ongoing foreign and retail selling reflects a cautious wait-and-see sentiment. Nonetheless, the FBM KLCI is well supported above the 1,520 level.
'We reckon today's selldown offers opportunity to bargain hunt stocks at lower levels, hence we expect the index to trend within the 1,510-1,540 level for the week,' he added.
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