FBM KLCI ends marginally lower amid downbeat market tone

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KUALA LUMPUR, Feb 27 — Bursa Malaysia ended a choppy session slightly lower as the rally in banking stocks helped to offset losses in the barometer index, amid the downbeat...

KUALA LUMPUR, Feb 27 — Bursa Malaysia ended a choppy session slightly lower as the rally in banking stocks helped to offset losses in the barometer index, amid the downbeat performance in regional peers.

Market breadth remained negative with decliners leading advancers 532 to 338, while 425 counters were unchanged, 946 untraded and 70 others suspended. ‘’This has put fears in financial markets in that the Fed could continue raising interest rates through mid-year,’’ he told Bernama. Nonetheless, he said buying support from foreign funds had been rather apparent, hence, he reckoned that the index could show a slightly more positive performance and hover between at the 1,450-1,470 range for the week.

As for active stocks, Borneo Oil, Zen Tech International and Velesto were flat at 2.0 sen, 2.5 sen and 27.5 sen, respectively, MyEG was down 1.5 sen to 72 sen, and SMRT Holdings put on 7.0 sen to 38 sen. The Main Market volume dwindled to 1.89 billion shares worth RM1.85 billion from Friday’s 2.27 billion shares worth RM2.17 billion.

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