Bursa Malaysia retreated from Wednesday’s gains to close lower yesterday due to profit-taking activities, bucking the mostly positive regional market performance, according to an analyst.
Bursa Malaysia ended at its intraday low on the last trading day of January, echoing the negative performance of regional bourses and poor global market sentiment.
Bursa Malaysia opened higher on Monday (Jan 30) morning, fuelled by the positive sentiment on Wall Street last Friday and China’s economic recovery theme. At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) added 3.31 points to 1,500.86 from Friday's close of 1,497.55.
Bursa Malaysia ended the morning trading session marginally higher despite mixed sentiments, as investors took their cue from the US markets, which closed on a high note last week, but remained wary of the US Federal Reserve’s interest rate announcement on Wednesday (Feb 1).