KUALA LUMPUR, Oct 24 — Bursa Malaysia ended lower today on continued selling in selected heavyweights amid the weak buying sentiment.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 7.56 points to 1,690.04 from yesterday's close of 1,697.60.

After opening 0.17 of-a-point lower at 1,697.43, the FBM KLCI moved between 1,689.53 and 1,706.18 throughout the day.

A dealer said the weakness in the local bourse was in line with regional bourses.

Hong Kong's Hang Seng Index fell 0.38 per cent to 25,249.78, Jakarta Composite Index declined 1.53 per cent to 5,709.42 and South Korea's KOSPI Composite Index was 0.4 per cent lower at 2,097.58.

Kenanga Research said geopolitical tensions and uncertainty about near-term outlook for the global economy forced investors to indulge in heavy selling in stocks from across various sectors.

“On the technical front, the FBM KLCI's outlook is increasingly bearish with the index breaching below the 1,700 points psychological support to initiate yet another downtrend.

“With key momentum indicators still in the negative territory, support levels are identified at 1,658 and 1,614. Should market sentiment improve, key levels of resistance to look for are 1,735 and 1,760 points,” it said in a note.

Among Bursa Malaysia's heavyweights, Maybank and Public Bank fell two sen each to RM9.38 and RM24.88, respectively, while Tenaga lost 18 sen to RM13.90 and Petronas Chemicals was flat at RM9.34.

As for actives, Prestariang gained 6.5 sen to 52 sen, Borneo Oil was unchanged at 4.5 sen and Vortex rose one sen to 9.5 sen.

Market breadth was negative with losers overwhelming gainers 620 to 245 with 348 counters unchanged, 691 untraded and 30 others were suspended.

Volume was higher at 2.34 billion units, valued at RM1.92 billion, from 2.01 billion units, valued at RM2 billion, transacted yesterday.

The FBM Emas Index fell 59.46 points to 11,680.76, the FBM Emas Shariah Index declined 92.57 points to 11,615.17 and the FBMT 100 Index decreased 49.56 points to 11,525.19.

The FBM Ace Index lost 34.93 points to 4,924.58 and the FBM 70 was 50.43 points weaker at 13,500.14.

Sector-wise, the Plantation Index gained 9.93 points to 7,380.63, the Industrial Products and Services Index eased 0.55 of-a-point to 169.74 and the Financial Services Index fell 49.84 points to 17,216.44.

Main Market volume rose to 1.46 billion shares, worth RM1.72 billion, from 1.25 billion shares, valued at RM1.83 billion, recorded on Tuesday.

Warrants turnover was higher at 521.67 million units, valued at RM138.24 million, from 479.28 million units, valued at RM113.04 million, transacted yesterday.

Volume on the ACE Market increased to 359.21 million shares, worth RM60.32 million, from 284.16 million shares, worth RM58.4 million, registered yesterday.

Consumer products and services accounted for 142.43 million shares traded on the Main Market, industrial products and services (279.34 million), construction (99.86 million), technology (339.67 million), SPAC (100,000), financial services (37.05 million), property (99.05 million), plantations (12.93 million), REITs (4.9 million), closed/fund (5,300), energy (326.24 million), healthcare (24.3 million), telecommunication and media (38.52 million), transportation and logistics (22.76 million) and utilities (38.03 million). — Bernama