KUALA LUMPUR: Bursa Malaysia closed slightly lower today, giving up earlier gains, as investors continued to take profits in the local bourse.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 1.13 points or 0.07 per cent, to 1,618.27 from last Friday's close of 1,619.40.
The benchmark index, which started the day 1.27 points higher at 1,620.67, fluctuated between 1,617.98 and 1,622.40 throughout the trading session.
On the broader market, decliners outnumbered gainers 682 to 530, with 486 counters unchanged.
Turnover rose to 5.64 billion units worth RM3.92 billion from last Friday's 5.61 billion units worth RM4.58 billion.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the index closed flattish despite the improvement in the regional bourses as investors continued to take profit.
He added that key regional indices finished mostly higher with heavy buying on computer chip and semi-conductor stocks after a strong profit report from Nvidia.
"China and Hong Kong markets were further boost by recent stimulus measures from Beijing.
"As for the local bourse, we believe bargain hunting activities will emerge buoyed by strong corporate earnings and stability of the local economy," he told Business Times.
Thong anticipates the benchmark index to trend within the range of 1,615-1,635 for the week with immediate resistance at 1,635 and support at 1,610.