KUALA LUMPUR, March 2 — Shares on Bursa Malaysia were mostly down in line with the weaker regional market performance and overnight sell-down on Wall Street, a dealer said.
The index, which opened 4.69 points better at 1,601.13, moved between 1,592.62 and 1,606.38 throughout the trading session. “Investors are also concerned about aggressive US Federal Reserve interest rate hikes in the next few months due to the worsening geopolitical conflict,” he told Bernama. “We reckon that oil and gas stocks to remain a short-term play due to the higher crude oil prices and anticipate the FBM KLCI to hover within the 1,590-1,610 range for the remainder of the week,” he said.
On the index board, FBM ACE dipped 118.46 points to 5,753.89, FBM 70 gained 54.88 points to 13,465.14, FBM Emas Index rose 1.62 points to 11,372.47, FBMT 100 Index decreased 0.74 of-a-point to 11,048.74, and FBM Emas Shariah Index widened 49.08 points to 12,140.57.