Bursa down on lack of catalysts

BURSA Malaysia ended lower today on a lack of catalysts, in line with most key regional markets. 

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased by 4.44 points to 1,469.55 from Tuesday’s closing of 1,473.99. The market bellwether opened 1.14 points lower at 1,472.85.

Regionally, Singapore’s Straits Times Index eased 0.1% to 3,242.46 and Japan’s Nikkei 225 Index trimmed 1.45% to 25,716.86, while Hong Kong’s Hang Seng Index jumped 3.22% to 20,793.11. 

Rakuten Trade Sdn Bhd Equity Research VP Thong Pak Leng said despite the heightened volatility in regional markets, he believes that bargain hunting will emerge due to cheap valuations and improving corporate earnings.

“As such, we see the benchmark index to trend within the 1,465-1,485 range for the remainder of the week,” he told Bernama

Further details on the market movement today could not be disclosed at the time of writing as the local bourse operator said the FBM KLCI is currently unavailable in the price feed. — Bernama/pic by Muhd Amin Naharul