Bursa Malaysia remained in the red at midday today, with continued selling pressure, especially in the utilities sector, dragging down the market. Analysts noted that the absence of new market catalysts has contributed to the bearish sentiment.
As of 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped by 0.58%, or 9.47 points, settling at 1,611.77, compared to Friday's close of 1,621.24.
The benchmark index had opened 4.39 points higher at 1,625.63 but struggled to maintain momentum, fluctuating between 1,611.55 and 1,627.23 throughout the morning session.
Market breadth remained negative, with decliners outpacing gainers at 635 to 275. In addition, 440 counters remained unchanged, 1,057 were untraded, and 18 were suspended.
Turnover reached 1.68 billion shares, valued at RM1.01 billion.
