FBM KLCI - lower on continuous selling

Stocks on Bursa Malaysia closed broadly lower yesterday with the benchmark FBM KLCI closing weaker, dragged by fund selling of Petronas related stocks, Public Bank and Telekom Malaysia on continuous selling activities in heavyweights. The weaker market sentiment was prompted by renewed expectations that the US Federal Reserve would increase its interest rate sooner-than-expected following strong US jobs report released last Friday. The FBM KLCI ended 15.22 points lower at 1,791.74, after fluctuating between 1,778.99 and 1,797.99 throughout the day. Losers outpaced gainers by 544 to 274 with 291 counters unchanged. Total volume rose to 2.1 billion shares worth RM1.9 billion from 2 billion shares worth RM1.9 billion last Friday. Read more >>