FBM KLCI slumps 17.45 points to below 1,600-level

TheStar Thu, May 05, 2022 05:12pm - 1 year View Original


KUALA LUMPUR: The FBM KLCI ended lower on Thursday as investors returning from a long weekend pared their positions amid a significant increase of 50 basis points by the Federal Reserve.

The 30-stock index closed down 17.45 points, or 1.09% to 1,582.98, its lowest since April 18. The index opened 13.91 points higher at 1,614.34 this morning.

There were 628 gainers, 380 losers and 421 counters traded unchanged on the Bursa Malaysia. Turnover stood at 2.68 billion shares valued at RM2.37bil.

Dealers expect cautious trading in the next few sessions ahead of Bank Negara's overnight policy rate (OPR) announcement and the release of first quarter gross domestic product (GDP) next week.

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