KUALA LUMPUR: Bursa Malaysia ended lower today on persistent selling in selected heavyweights amid bearish sentiment surrounding regional stock markets.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 24.87 points to end at its intraday low of 1,697.6, from yesterday's close of 1,722.47
After opening 0.97 of-a-point lower at 1,721.5, the FBM KLCI also touched a high of 1,721.91.
A dealer said the weak market sentiment in the region was partly due to worries about the US-China trade conflict, how it could impact on China’s economic growth, as well as concerns on whether the US Federal Reserve would raise interest rates faster and higher than expected.
“The jitters in the external market have spilled over into Bursa Malaysia,” he added.
On the technical front, Kenanga Research said the outlook for the FBM KLCI remained bearish and momentum indicators had yet to show any possible sign of a bullish run.
In a note, the research firm said support could be spotted at 1,700 and 1,660, with key levels of resistance at 1,790 and 1,760 should market sentiment improve.
Among Bursa Malaysia's heavyweights, Maybank fell 20 sen to RM9.40, Public Bank lost eight sen to RM24.90, Tenaga declined 42 sen to RM14.08 and Petronas Chemicals was four sen lower at RM9.34.
As for actives, Prestariang gained 1.5 sen to 45.5 sen, Sapura Energy eased half-a-sen to 34 sen and MYEG was 10 sen weaker at RM1.28.
Market breadth was negative with losers overwhelming gainers 727 to 170, with 330 counters unchanged, 677 untraded and 29 others suspended.
Volume was higher at 2.01 billion units valued at RM2 billion from 1.95 billion units valued at RM1.67 billion recorded yesterday.