Bursa closes lower, but broader market stays firm on tech and construction buying
KUALA LUMPUR, Sept 18 — Bursa Malaysia’s main index closed lower on Friday after a choppy session, while buy...
Bursa Malaysia's main index, the KLCI, fell by 0.54% to close at 1,665.56 points on Friday, as investors shifted their focus to smaller-cap tech and construction stocks. Despite the decline, market breadth remained positive, with more stocks gaining value than losing it. Turnover for the day reached RM4.87 billion, up from the previous day's 3.25 billion.
Catalysts for the day's movement included lower oil prices easing US inflation concerns and a tech-led rebound on Wall Street. The FBM KLCI's RSI was just above 30, indicating potential oversold conditions. While heavyweight stocks saw declines such as Maybank, Public Bank, CIMB, Tenaga Nasional, and IHH Healthcare, actively traded counters like Zetrix AI, AirAsia, and FBSM also experienced price fluctuations.
The broader market saw gains from Malaysian Pacific Industries, Sunway Construction, and Time Dotcom, while some sectors like Financial Services and Plantation faced losses. Overall, the local market's performance was influenced by foreign selling trends and the actions of global investors.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
