KUALA LUMPUR: Bursa Malaysia continued its downtrend, aligning with the overall weaker performance of regional markets, primarily influenced by selling pressure in the financial services sector.
As of 12:30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) saw a decrease of 7.14 points, settling at 1,457.42 from the previous day's closing of 1,464.56.
The FBM KLCI opened 1.39 points lower at 1,463.17 and fluctuated between 1,457.28 and 1,463.17 during the morning trading session.
Malacca Securities Bhd highlighted the importance of upcoming data, such as the US gross domestic product (GDP) and personal consumption expenditures (PCE) price index, for traders to gauge the market's future direction.
"On the commodity markets, Brent oil prices traded near USD80/bbl as traders priced in the elevated tension in the Red Sea," it said in a note.
Anticipating negative movements in the local market amid profit-taking activities on Wall Street, Malacca Securities expressed caution about potential downward trends.
