KUALA LUMPUR: Bursa Malaysia relinquished its earlier advances and closed in negative territory today due to the profit-taking activities the afternoon trading session.
This has ended its seven-day winning streak.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 1.11 points to 1,464.56 from yesterday's close of 1,465.67.
The benchmark index opened 0.76 of-a-point better at 1,466.43 and moved between 1,464.09 and 1,470.79 throughout the day
On the broader market, losers surpassed gainers 465 to 411, while 491 counters were unchanged, 950 untraded, and 23 others suspended.
Rakuten Trade equity research vice-president Thong Pak Leng said the investors are awaiting a slew of economic data from the United States later this week to firm up their gauges on rate.
On the local front, Thong said the FBM KLCI failed to hold above the crucial 1,465 resistance line. "We hope for a breakout from this line, if not, the benchmark index will further consolidate around that level for a short period, pending new catalysts," he told the Business Times.
If the FBM KLCI is able to break out from the 1,465 resistance level for an extended period and holds strongly, Thong anticipates stronger potential upwards in the near term.
"We expect the key index to trend within the 1,460-1,470 range for the rest of the week, with immediate support at 1,450 and resistance at 1,500," he said.
Among the heavyweights, Petronas Chemicals Group Bhd increased nine sen to RM7.18, Malayan Banking Bhd slid one sen to RM8.97, Public Bank Bhd went down two sen to RM4.32, CIMB Group Holdings Bhd lost six sen to RM5.90, while Tenaga Nasional Bhd was flat at RM10.00.
Of the actives, TWL Holdings Bhd inched up half-a-sen to 3.5 sen, Jati Tinggi Group Bhd added four sen to 31 sen, Leform Bhd rose two sen to 41 sen, Top Glove Corp Bhd fell 3.5 sen to 90.5 sen, and Careplus Group Bhd dropped 2.5 sen to 44 sen.
