Bursa Malaysia down ahead of key US data releases

KUALA LUMPUR: Bursa Malaysia ended lower today, pressured by selling activity amid cautious market sentiment as investors await key US economic data releases later this week.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 2.68 points or 0.18 per cent to 1,523.48 from Tuesday's close of 1,526.16.
The benchmark index opened 3.98 points higher at 1,530.14 and fluctuated between 1,523.48 and 1,532.80 throughout the day.
In the broader market, decliners outpaced gainers 474 to 435, with 499 counters unchanged, 938 untraded and 50 suspended.
Turnover declined to 2.51 billion units worth RM2.04 billion compared with Tuesday's 2.66 billion units worth RM1.85 billion.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI closed lower today, failing to sustain an early recovery attempt, in contrast to Wall Street's overnight rally.
He said persistent selling pressure weighed on the index, reflecting cautious market sentiment as investors await pivotal US economic data releases later this week.
They are the Consumer Price Index and retail sales figures, which will provide critical insights into the trajectory of global economic growth.
"Nvidia's quarterly earnings report, due tonight, remains a focal point, given its role as a bellwether for the tech sector and broader market confidence," he said.
Sedek said foreign investors intensified their net selling on Bursa on Tuesday, extending last week's outflows.
This sustained selling underscores heightened caution among global funds amid uncertainties surrounding US monetary policy and elevated regional market valuations.

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