Stocks on Bursa Malaysia closed lower last Friday in cautious trading amid a quiet market as most traders were away on holiday. The local bourse was tracking the weaker regional markets on concerns over the US deficit reduction plan, or fiscal cliff, and Europe’s debt problems which were expected to continue dampen the sentiment in the near term. The FBM KLCI fell 2.4 points to close at 1,629.28, after hovering between 1,634.98 and 1,624.55, while on a Friday-to-Friday basis, the key index fell 11.80 points from previous Friday's 1,641.08. Losers led gainers by 395 to 281, while 343 counters were unchanged. Volume rose to 895.96 million shares worth RM1.75 billion from 888.22 million shares worth RM1.8 billion on Wednesday. Weekly turnover fell to 2.56 billion shares valued at RM4.58 billion for a three days week compared with previous week's 5.375 billion shares valued at RM7.632 billion.
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