Selling on telco, commodity stocks weigh Bursa down

KUALA LUMPUR: Bursa Malaysia closed lower today for the second consecutive day as selling pressure persisted, mainly in telecommunication and commodity-related stocks, amid a mixed regional performance.

“As for the local bourse, we believe the short-term sentiment will continue to be volatile, influenced by a range of internal and external factors. The market breadth was negative as decliners led gainers by 487 to 300, while 433 counters were unchanged, 1,023 untraded, and 21 others suspended. Of the actives, Sarawak Consolidated edged up 0.5 sen to 28 sen while Dagang NeXchange and RGB International ticked up 1 sen to 49 sen and 27 sen, respectively. Star Media was down by 3 sen to 47 sen and Widad Group was flat at 42.5 sen.

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