KUALA LUMPUR, Nov 25 — Bursa Malaysia reversed yesterday’s strong gains with the key index closing below the 1,500-psychological mark today on profit-taking and a weak external front.
The market bellwether, which opened 0.18 of-a-point lower at 1,501.70 this morning, subsequently moved to its day’s high at 1,504.16, but thereafter slipped to its intraday low of 1,481.38 during the mid-morning session. Losses in technology stocks — Axiata and Maxis — dragged the composite index down by a combined 4.20 points, while Top Glove was the biggest loser among the 30 FBM KLCI index constituents, declining 7.5 sen or 7.61 per cent to 91 sen, with 87.3 million shares changing hands.
Regionally, the key indices were mostly in negative territory amid concerns over rising Covid-19 cases in China, while some investors were digesting economic data from the region, including Japan’s Consumer Price Index and Singapore’s gross domestic product readings, he told Bernama. Sector-wise, the Financial Services Index was 67.72 points lower at 16,699.16, the Energy Index trimmed 5.10 points to 641.77, the Plantation Index slid 27.91 points to 6,817.15, while the Industrial Products and Services Index edged up 0.35 of-a-point to 185.36.
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