Bursa Malaysia Ends Lower, Tracks Regional Losses On Trade Jitters
KUALA LUMPUR, July 7 (Bernama) -- Bursa Malaysia closed lower on Monday, reversing last week's gains, as regional markets weakened amid renewed investor caution ahead of the July 9 tariff deadline, analysts said.
The local bourse tracked losses across Asia as investors awaited United States President Donald Trump's final decision on trade deals.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 12.65 points, or 0.82 per cent, to 1,537.54, down from last Friday's close of 1,550.19.
The benchmark opened 5.45 points lower at 1,544.74 and touched an intraday low of 1,534.67 in early trade.
Market breadth was negative, with 754 decliners outpacing 260 gainers. A total of 466 counters were unchanged, while 944 were untraded and 19 suspended.
Turnover rose to 3.57 billion shares worth RM2.49 billion, compared with 3.43 billion shares worth RM2.47 billion on Friday.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said trade tensions resurfaced after Trump reaffirmed his intention to impose unilateral tariffs on a broad range of countries.
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