KUALA LUMPUR: Bursa Malaysia ended trading in the red today despite some buying activities towards the end of the trading session.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 2.29 points to close at 1,536.98 compared to previous day's close of 1,539.27.
The benchmark index, which opened 1.35 points lower at 1,537.92, moved between 1,518.84 and 1,537.92 throughout the day.
On the broader market, losers outpaced gainers 654 to 380, while 450 counters were unchanged, 767 untraded and 13 others suspended.
Turnover rose to 3.81 billion units worth RM2.80 billion from 3.32 billion units worth RM2.56 billion yesterday.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said key regional indices trended broadly lower with profit takings on tech stocks following last week's strong gains.
Meanwhile, Thong said investors are anticipating a series of important economic reports this week, particularly related to US inflation and interest rates.
"This has, in turn, kept risk appetite largely muted," he told the Business Times.
As for the local bourse, Thong said the outlook for Malaysian equities will remain positive, driven by strong corporate earnings, cheap valuations and substantial support from foreign investors.
On the other hand, his advice to investors is to exercise caution in the current environment, taking into account external factors such as increasing market risks and elevated volatility in global markets.
"We anticipate the FBM KLCI to trend within the range of 1,540-1,570 for the week," he added.
Among the heavyweights, Malayan Banking Bhd rose three sen to RM9.63, CIMB Group Holdings Bhd gained eight sen to RM6.53, Tenaga Nasional Bhd fell four sen to RM11.16, Petronas Chemicals Group Bhd slid two sen to RM6.86 and Public Bank Group Bhd rose two sen at RM4.32.
Among the actives, Widad Group Bhd eased to 9.5 sen, Harvest Miracle Capital Bhd slipped half-a-sen to 14 sen, Fitters Diversified Bhd and TWL Holdings Bhd were unchanged at five sen and 35 sen respectively.