Bursa ends lower ahead of FOMC decision as oil prices rise
External uncertainties are expected to keep investors defensive and the FBM KLCI in consolidation mode in the near term, says an analyst.
KUALA LUMPUR: Bursa Malaysia's KLCI ended 18.80 points lower, dropping 1.11% at 1,679.21 points on Friday, amid cautious investor sentiment ahead of the US Federal Open Market Committee (FOMC) decision and rising oil prices. Market analyst Thong Pak Leng stated that regional and global markets weakened, contributing to the cautious trading environment.
Domestic focus was on energy-related stocks, with technical analysis indicating the index approaching oversold territory, potentially encouraging bargain hunting. Following the FOMC announcement, the benchmark index is expected to trade within the 1,670-1,700 range for the remainder of the week.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Ringgit ends lower against US dollar as investors await FOMC decision nst.com.my
- Ringgit ends lower as investors await FOMC decision freemalaysiatoday.com
