Bursa Malaysia retreats as profit-taking weighs on early gains
KUALA LUMPUR, Aug 13 — Bursa Malaysia opened higher on Thursday, but retreated thereafter, amid profit-taking afte...
Bursa Malaysia's main index, the FBM KLCI, saw a modest retreat on Thursday morning after a strong opening, as traders took profits from the previous day's gains. Despite Wall Street's mostly higher performance, traders remained cautious due to elevated crude oil prices and uncertainty surrounding the US Federal Reserve's rate decision.
The benchmark index slipped by 4.32 points to 1,737.29, down from Wednesday's close of 1,741.61. During the trading session, 172 stocks gained while 158 fell, leaving 340 unchanged, 2,128 untraded, and 15 suspended. Trading volume totaled 160.62 million shares, valued at RM99.07 million. Rakuten Trade Sdn Bhd noted that traders were concerned about elevated crude oil prices and awaited the US CPI data to be released later.
While some sectors experienced gains, including Vitrox Corporation, Malaysian Pacific Industries, and Wang-Zheng, others, such as Nestle, Malaysia Smelting Corporation, and Press Metal Aluminium, posted declines. Among the major companies, Maybank and Public Bank saw small drops, while Tenaga Nasional and IHH Healthcare experienced minor declines as well.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
