Investors exercised caution due to global inflation concerns and other factors, says analyst.
KUALA LUMPUR: Bursa Malaysia bucked the regional trend to end the week sharply lower due to broad-based selling, said Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng.
Meanwhile, key regional indices trended mostly higher as bargain hunting emerged following yesterday’s sell-off. The benchmark index, which opened 3.72 points easier at 1,436.39, hit an intraday high of 1,436.97 in the morning session before succumbing to selling pressure in late trading. At the close, Bursa heavyweight counters Maybank fell 9 sen to RM8.79, Public Bank lost 8 sen to RM4.06, CIMB decreased 12 sen to RM5.43, Tenaga Nasional and Petronas Chemicals slid 3 sen each to RM9.99 and RM7.19, respectively.
Sector-wise, the plantation index eased 10.89 points to 6,880.35, the industrial products and services index narrowed by 1.17 points to 171.49 and the energy index fell 5.07 points to 893.74.The Main Market volume stood at 1.83 billion units worth RM2.1 billion from 1.88 billion units worth RM1.66 billion on Wednesday.
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