Nevertheless, the valuations of FBM KLCI remain attractive for investors, says analyst.
KUALA LUMPUR: Bursa Malaysia closed broadly lower today, in tandem with the weaker performance in regional bourses as cautious sentiment following geopolitical tensions in the Middle East weighed on investors’ risk appetite.
“As for the local stock market, sentiment may be cautious, given the increasing market risks and volatility in the global markets. Consequently, the FBM KLCI is expected to trade within the 1,430 and 1,450 range for the week, with immediate support at 1,430 and resistance at 1,460, he added.The key index, which opened 1.22 points better at 1,445.36, moved between 1,436.5 and 1,446.12 throughout the day.
Among the heavyweights, CIMB shed 5 sen to RM5.61, Tenaga lost 7 sen to RM9.95, IHH Healthcare slipped 1 sen to RM5.95, while both Maybank and Public Bank were flat at RM8.98 and RM4.17 respectively. Sector-wise, the industrial products services index added 0.9 of-a-point to 175.34, the energy index was 5.1 points higher at 882.46, while the plantation index lost 36.57 points to 6,826.16, and the financial services index slipped 36.25 points to 16,227.93.
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