KUALA LUMPUR: Bursa Malaysia ended the morning session lower as global growth concerns dominating sentiment and investors looking ahead of US economic data this week.
At midday break, Bursa's barometer FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.01 points to 1,474.18 from Friday's closing of 1,477.19.
The index opened 1.58 points lower at 1,475.61 and dropped to as low as 1,468.85 during the session.
On the broader market, decliners thumped gainers 455 versus 314, while 359 counters were unchanged, 1,135 untraded and 12 others suspended. Turnover stood at 1.36 billion units worth RM607.65 million.
Rakuten Trade Sdn Bhd said Wall Street had retreated as concerns over interest rate hike emerged again for the upcoming Federal Open Market Committee's (FOMC) meeting on Dec 13-14.
The firm said the FBM KLCI finally rebounded to almost the 1.480 level attributed to broad-based buying.
"Despite the weak performance on Wall Street, we reckon stock accumulation to continue with more stability within the political scene due to the recent announcements of deputy ministers.
"Nonetheless, we expect the index to trend between the 1,470-1,485 range today as sentiment may turn cautious ahead of the FOMC meeting. We believe buying may centre on the banks and telcos today after recent consolidation of the local bourse," it said today.
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