KUALA LUMPUR: Bursa Malaysia closed lower on Thursday, primarily due to ongoing selling pressure.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 0.61 per cent or 8.98 points to 1,455.58 from yesterday's close of 1,464.56.
The benchmark index opened 1.39 points lower at 1,463.17 and moved between 1,454.97 and 1,463.17 throughout the day.
On the broader market, losers outpaced gainers 434 to 390, while 487 counters were unchanged, 1,004 untraded and 21 others suspended.
Turnover fell to 3.06 billion units worth RM2.09 billion from 3.84 billion units worth RM2.67 billion yesterday. Malacca Securities Research said Bursa Malaysia closed lower primarily due to ongoing selling pressure, particularly in the financial services sector, amidst a varied performance in regional markets.
"Meanwhile, the traders will monitor the upcoming data such as the US gross domestic product (GDP) and Personal Consumption Expenditure (PCE) price index to determine the market's direction going forward.
"At this juncture, we expect local market movements to turn negative amid profit taking activities from Wall Street," it said in a note.
Among the other heavyweights, Sime Darby Group Bhd went down five sen to RM2.40 and RHB Bank Bhd dropped five sen to RM5.45, but Petronas Chemicals Group Bhd gained three sen to RM7.21 and Kuala Lumpur Kepong Bhd added 24 sen to RM21.92.
Of the actives, Top Glove Corp Bhd edged up three sen to 94 sen, MLABS Systems Bhd and Leform Bhd rose half sen each to 1 sen and 42 sen, respectively, Widad Group Bhd was flat at 46 sen.