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Bursa Malaysia ends lower dragged by selling in telco, media sectors

KUALA LUMPUR: Bursa Malaysia ended slightly lower, mainly dragged down by selling pressure in the telecommunication and media sectors.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 1.54 points or 0.09 per cent to 1,676.65 from Monday's close of 1,678.19.

The key index opened higher by 1.56 points at 1,680.36, and later fell to 1,676.58 during the midday session.

On the broader market, gainers led losers 518 to 502, while 528 counters were unchanged, 879 untraded, and 15 others suspended.

Turnover fell to 2.98 billion units valued at RM2.94 billion.

Malacca Securities said the key index closed marginally lower, dragged down by selling pressure in the telecommunication and media sector, as well as industrial products  and services sector.

"This performance mirrored the regional markets, which also struggled amid a lack of fresh catalysts."

"In the broader market, the healthcare sector was the best performer as it rose 1.08 per cent , led by Hartalega and IHH Healthcare, while the telecommunication and media sector declined the most by 0.94 per cent," it said

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