Profit-taking on Bursa on softer appetite for global equities

TheStar Wed, Feb 21, 2024 12:41pm - 1 month View Original


KUALA LUMPUR: Bursa Malaysia succumbed to profit-taking as investor sentiment in global markets ebbed amid diminished expectations the Federal Reserve will cut interest rates by the first half of the year.

Investors are practising caution ahead of the release of the minutes of the Fed's most recent Open Market Committee meeting, which should offer clues as to which way policymakers are leaning.

At 12.30pm, the benchmark FBM KLCI was down 5.84 points to 1,549.75 in a broadly negative market of 582 decliners compared to 314 gainers and 433 unchanged.

The trading volume was 1.97 billion shares changing hands for RM1.24bil.

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