Profit-taking drags Bursa Malaysia lower as banking and energy stocks dip

High Court rules Malaysian Bar can’t challenge Pardons Board over Najib’s shortened SRC jail term, says board’s advice part of process leading to Agong’s pardon

At 5pm, the FTSE Bursa Malaysia KLCI fell 0.73 per cent or 11.98 points, to close at 1,609.26 compared with Friday’s close of 1,621.24. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said today’s sell-off was seen as an opportunity for bargain-hunting in severely beaten-down stocks, particularly blue chips, due to their more attractive valuations.

“Together, these factors have reignited concerns over the recovery pace in the world’s second-largest economy. “This is as investors remain cautious about the possibility of renewed trade tensions and disruptions to the global economic landscape,” Mohd Sedek added.

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