Bursa Malaysia snaps two-day winning streak to close lower on blue chip selling
KUALA LUMPUR, Oct 29 — Bursa Malaysia snapped a two-day winning streak to close lower today, in line with regional...
Bursa Malaysia ended lower on Tuesday, marking the end of a two-day winning streak as regional markets continued to face pressure. The FTSE Bursa Malaysia KLCI index slipped 2.71 points, or 0.17%, to 1,611.16 from the previous close of 1,613.87. Blue chip stocks' selling pressure had a significant impact on market sentiment, with losers outnumbering gainers by 574 to 443.
The overall market saw 559 counters unchanged, while 1,301 shares were untraded and 161 suspended. Trading volume decreased to 2.95 billion units worth RM2.43 billion, down from Wednesday's 3.16 billion units worth RM2.28 billion. Foreign investors were net buyers for the second consecutive session, potentially indicating improving sentiment, but Mohd Sedek Jantan, IPPFA Director of Investment Strategy and Country Economist, cautioned that it is too early to determine a sustained reversal in foreign fund flows.
Major stocks like CIMB, Petronas Chemicals, Nestle, and MISC experienced declines, while Allianz Malaysia, Batu Kawan, and TMK Chemical led the top gainers. Sector-wise, the Financial Services Index saw the most significant drop, falling 41.30 points to 18,537.94.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
