Money
Bursa closes lower on selling pressure
Malay Mail

KUALA LUMPUR, June 10 — Bursa Malaysia closed lower today on further selling pressure and in line with the weaker sentiment on regional bourses.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended 9.29 points weaker at its intra-day low of 1,641.22 after opening 1.14 points higher at 1,651.65. 

The index fluctuated between 1,651.79 and 1,641.22 throughout the day. 

Losers edged gainers 461 to 300 with 371 counters unchanged, 572 untraded and 15 others suspended. 

Volume increased to 1.84 billion units worth RM1.38 billion from 1.73 billion units worth RM1.61 billion yesterday.

The index was dragged lower after it breached below the 1,650.00 level, Hong Leong Investment Bank (HLIB) said in a note today.

"The local benchmark key index remains under pressure, as the bearish reversal candlestick pattern, Evening Doji Star, on the daily chart suggests the likelihood of a technical correction from the recent rally," said HLIB.

It also said the upcoming Federal Open Market Committee (FOMC) meeting next week had kept the investors' overall sentiment cautious.

Japan's Nikkei 225 fell 0.40 per cent to 16,601.36 points while Hong Kong's Hang Seng Composite Index slipped 1.20 per cent to 21,042.64. 

Of the heavyweights, Maybank slipped five sen to RM8.20, TNB rose eight sen to RM13.98, Public Bank was flat at RM19.04 while Petronas Chemicals fell 12 sen to RM6.54. 

Among actives, Trive Property added three sen to 10 sen, Borneo Oil gained half-a-sen to 15 sen while Raya International shed four sen to 23 sen. 

The FBM Emas Index decreased 44.30 points to 11,500.57, the FBMT 100 Index slipped 44.27 points to 11,192.05 and the FBM Emas Shariah Index lost 61.26 points to 12,056.71.

However, the FBM 70 rose 16.31 points to 13,063.31 and the FBM Ace was 9.37 points higher at 5,512.50.

The Finance Index declined 61.83 points to 14,191.10, the Plantation Index slid 17.89 points to 7,577.29 and the Industrial Index was 2.37 points lower at 3,082.22. 

Main Market turnover increased to 1.20 billion shares worth RM1.27 billion from yesterday's 1.15 billion shares valued at RM1.51 billion. 

The ACE Market volume rose to 436.83 million shares worth RM77.36 million from 418.92 million shares valued at RM76.07 million. 

Warrants swelled to 210.15 million shares worth RM32.00 million from 165.29 million shares valued at RM23.48 million previously. 

Consumer products accounted for 56.01 million shares traded on the Main Market, industrial products (171.93 million), construction (33.32 million), trade and services (490.81 million), technology (280.98 million), infrastructure (6.78 million), SPAC (22.58 million), finance (21.18 million), hotels (328,100), properties (86.14 million), plantations (24.22 million), mining (2,000), REITs (6.08 million) and closed/fund (9,800). — Bernama

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