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Bursa Malaysia closes lower amid global sell-offs

KUALA LUMPUR: Bursa Malaysia closed in negative territory due to broad global equity sell-offs, sparked by uncertainties in the US elections. 

At 5pm, FTSE Bursa Malaysia KLCI eased 0.57 per cent or 9.3 points to 1,632.23 versus Wednesday's close of 1,641.53. 

The key index hit the highest level of 1,643.08.  

The broader market saw losers trunoed gainers 711 to 309 while 518 counters were unchanged. 

On the index board, FBM100 lost 0.58 per cent to 12,001.63, FBM Emas shed 0.55 per cent to 12,299.70 while FBM Ace added 0.31 per cent to 5,100.94. 

Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the recent sell-off in the local market offers an opportunity for investors to engage in bargain hunting, especially with blue-chip stocks at lower levels. 

"As uncertainties grow and volatility escalates in global equities, we recommend investors stay vigilant. 

"We anticipate the benchmark index will trade between 1,630-1,640 towards the weekend," he added

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