Profit-takers remove some of Bursa’s gains

Profit-takers remove some of Bursa’s gains

9 days ago

KUALA LUMPUR: Bursa Malaysia reversed its strong gains from yesterday on profit-taking and a weak external front to close below the psychological level of 1,500 points.

The FTSE Bursa Malaysia KLCI (FBM KLCI) had surged 4.04% partly driven by the appointment of Anwar Ibrahim as Malaysia’s 10th prime minister.

At 5pm, the benchmark index fell 15.34 points or 1.02% to finish at 1,486.54, from 1,501.88 yesterday.

The market bellwether, which opened 0.18 of-a-point lower at 1,501.70 this morning, subsequently moved to its day’s high at 1,504.16, but thereafter slipped to its intraday low of 1,481.38 during the mid-morning session.

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