KUALA LUMPUR: Bursa Malaysia retreated to opened slightly lower as traders locked in profits, ahead of today’s release of the first-quarter gross domestic product data.The index opened at 1,609.22, 2.21 points weaker from yesterday 1,611.43.Turnover stood at 182.68 million shares worth RM129.95 million.Hence, it expects increased profit taking activities today will curtail the potential near term upsides.
“With the trade dispute far from finding a resolution, coming after the US banned China’s telecommunication equipment in the country yesterday, the global equity market is still on tenterhooks with market conditions easily going pear shape again if the issue flares up,” it added. “The lower liners and broader market shares are also posting mild recoveries and this trend is set to continue as retail players take advantage of the calmer market conditions to undertake trading activities,” it added.
Source: News Formal (newsformal.com)
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