KUALA LUMPUR: Bursa Malaysia ended lower on Thursday due to a selldown in global equities as well as profit taking on YTL Corp Bhd and YTL Power International Bhd.
At 5pm, FTSE Bursa Malaysia KLCI dropped 0.81 per cent or 12.03 points to 1,479.18 versus Wednesday's close of 1,491.21.
The key index which opened at 1,488.49 moved between 1,478.03 and 1,492.53 throughout the day.
The broader market saw decliners led gainers 882 to 218 while 386 counters remained unchanged.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the firm remained positive on the outlook for Malaysian equities despite the sell-off, supported by the improving corporate earnings and advantageous economic conditions within the local economy.
"In addition, the increasing daily trade volume signifies a growing overall market interest, providing substantial potential for bargain hunters. "Hence, we expect the FBM KLCI to stage a rebound soon and anticipate it to trend within the 1,480-1,490 towards the weekend.
"We spot the immediate support at 1,475 followed by 1,465 and resistance at 1,500," he said.
Thong added key regional indices closed mixed due to mixed reactions on the delaying rate cut in the United States.
"China and Hong Kong stocks ended marginally higher as bargain hunting emerged following the recent sell-off," he said. -end-