KUALA LUMPUR: Share prices on Bursa Malaysia closed lower on Monday as worries grow that the Fed's interest rate increases will slow the economy.
At closing, the FBM KLCI ended 6.59 points, or 0.43% at 1,542.53. It dipped to an intraday low of 1,540.09 and hit an intraday high of 1,556.43.
The broader market displayed its weakness as profit-takers triumphed over bargain-hunters. There were 546 losers, 355 gainers and 433 counters traded unchanged on the Bursa Malaysia.
About 3.38 billion shares, valued at RM1.886bil, changed hands.
Dealers said investors are in a wait-and-see approach ahead of the US Federal Reserve's meeting minutes this week, as well as Malaysia's inflation rate.
Kuala Lumpur Kepong was the top loser on Bursa Malaysia falling 48 sen to RM26.42. Hong Leong Financial Group lost 32 sen to RM19.18, IOI Corp fell 32 sen to RM4.08 and Genting Plantations eased 32 sen to RM8.30.
Nestle jumped 60 sen to RM134.20, Heineken Malaysia added 52 sen to RM25 and Carlsberg gained 30 sen to RM22.14.
Quality Concrete hit limit up, rising 30 sen, or 29.41% to RM1.32
Sapura Energy rose 1.5 sen to 8.5 sen with 813.48 million shares traded, making it the most active counter on Bursa Malaysia.
Serba Dinamik lost 2.5 sen to 11 sen with 194.22 million shares done.
Meanwhile, Asian bourses closed mixed today, with Japan’s Nikkei 225 rising 0.98%, South Korea's Kospi advancing 0.31%, Hong Kong's Hang Seng closed down 1.19%, China's CSI 300 index falling 0.58% and Singapore's Straits Times index down 0.65%.
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