KUALA LUMPUR: Bursa Malaysia ended the day mixed with profit-taking pushing the FTSE Bursa Malaysia KLCI one per cent lower.
At 5:00 pm today, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 16.43 points or 1.06 per cent, settling at 1,538.13 from Tuesday's closure of 1,554.56.
In the broader market, there were 516 gainers compared to 468 losers, with 529 stocks maintaining their previous positions.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng mentioned that investors are exercising caution due to the significant US inflation, which could potentially result in prolonged or heightened interest rates.
He noted that major regional indices experienced a decline as a result of profit-taking actions.
"On the domestic front, we remain positive on the market undertone given the strong fundamentals of the corporates and improving local economy."As such, we anticipate the FBM KLCI to trend within the range of 1,540-1,560 for the rest of the week," he added.