KUALA LUMPUR: Bursa Malaysia closed lower on Monday due to weak investor sentiment amid rising geopolitical tensions in the Middle East.
FTSE Bursa Malaysia KLCI was down 0.55 per cent or 8.51 points to 1,542.53 versus Friday's close of 1,551.04.
The key index opened at 1,545.45 and moved between 1,542.53 and 1,548.34 throughout the trading session.
The broader market saw decliners leading gainers 991 to 229 while 377 counters were unchanged.
The index board was a sea of red with FBM 100 losing 0.78 per cent to 11,239.06, FBM Emas tumbled 0.83 per cent to 11,600.20 and FBM Ace dropped 2.03 per cent to 4,996.47.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said short-term market sentiment is expected to remain jittery amid uncertain global performance.
"Simultaneously, investors are advised to stay alert for bargain hunting opportunities should there be a positive outcome from a ceasefire. We anticipate the FBM KLCI to remain in consolidation and trend within the range of 1,538 – 1,570 for the week," he said in a note.
He noted that regional indices also followed a similar pattern. with persistent concerns over higher-for-longer US interest rates also weighing on investor sentiment.