corporate

Bursa Malaysia closes in negative territory ahead of US inflation data

KUALA LUMPUR: Bursa Malaysia ended in negative territory, reflecting the mixed performance of regional markets ahead of US inflation data tomorrow.

Malaysian stocks saw mixed results, with buying interest in construction, real estate investment trusts (REITs), and healthcare sectors, while energy and industrial products and services stocks experienced selling pressure.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 0.04 per cent, dropping 0.71 points to 1,634.91 from Tuesday's close of 1,635.62.

On the broader market, gainers outnumbered losers, with 566 rising against 548 declining, while 494 counters were unchanged.

Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng stated that despite the mixed sentiment in the local stock market, they are maintaining a cautious approach.

"However, the inflow of foreign funds could signal a potential positive shift. As such we keep our weekly FBM KLCI target unchanged at between 1,630-1,650," he added.

Thong added that investors are cautiously awaiting Thursday's US inflation data, looking for signs that the US Federal Reserve might continue cutting rates.

Most Popular
Related Article
Says Stories