KUALA LUMPUR: Bursa Malaysia retreated from yesterday’s gains to open lower today, taking the cue from Wall Street’s weaker performance overnight as the US consumer price index report for September showed no signs of weakening.
He said the Dow Jones Industrial Average declined 0.51% overnight while the Nasdaq Composite dipped 0.63%. Back home, he said as investors await the tabling of Budget 2024 later today, he remained quite optimistic that there may be some pleasant surprises in store.“Again, we advocate investors to focus on value stocks like banks and telecommunications plus sectors like construction, industrial products and property as dark horses,” he added.
Of the actives, Widad edged up 0.5 sen to 55 sen, Tanco and Malaysian Resources Corporation eased 0.5 sen each to 56 sen and 48.5 sen, respectively, while KNM Group and Sapura Energy were flat at 12 sen and 5 sen respectively.
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