KUALA LUMPUR: Bursa Malaysia ended the day with a decline, influenced by the selling pressure on certain prominent stocks as well as mid- and small-cap stocks.
At 5pm, the the FTSE Bursa Malaysia KLCI (FBM KLCI) shed 5.77 points to 1,448.15 from Friday's closing of 1,453.92.
The main index started the day 0.77 points lower at 1,453.15 and fluctuated between 1,448.0 and 1,455.78 for the duration of the day.
On the broader market, decliners outnumbered gainers 683 to 287, while 415 counters were unchanged.
Rakuten Trade equity research vice-president Thong Pak Leng said the FBM KLCI concluded marginally lower due to a lack of buying catalysts.
He added that key regional indices trended downward as investors exercised caution ahead of upcoming inflation data from the US and Europe later this week.
"On the domestic front, the valuation of the benchmark index remains attractive at its current level, and we anticipate continued stock accumulation, particularly in blue-chip stocks during market dips.
"However, investor sentiment may be affected by uncertain global economic conditions and increasing market volatility, hence, we expect the FBM KLCI to maintain its consolidation phase for the moment, awaiting the emergence of fresh catalysts.
"We anticipate the index to trend within the range of its support and resistance levels, specifically at 1,445 and 1,465, respectively, for the week," he told Business Times.
Additionally, Thong said the 7.8 per cent year-on-year (YoY) decline in China's industrial profits in October further weakened investor sentiment, fueling impatience over the potential for more stimulus measures from Beijing.
He added that a series of weak Purchasing Managers' Index (PMIs) in Japan raised concerns about a slowdown in business activity in the country.