Selling pressure drags Bursa lower

KUALA LUMPUR: Bursa Malaysia ended lower on Thursday as selling pressure in industrial products and services stocks outweighed gains in the telecommunications sector, an analyst said.

At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slid 1.09%, or 18.31 points, to end at its intraday low of 1,663.82 from Wednesday’s close of 1,682.13.

The index opened 2.32 points higher at 1,684.45 and subsequently hit its day high of 1,685.17 in the early session.

Market breadth was negative with decliners outpacing gainers 623 to 478. A total of 534 counters were unchanged, 1,116 untraded, and 40 suspended.

Turnover expanded to 3.18 billion units worth RM2.89 billion against 2.76 billion units valued at RM2.42 billion on Wednesday.

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