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Abstract:Bursa Malaysia saw a slight dip on the final trading day of the year as profit-taking and cautious sentiment dominated. The FBM KLCI declined 3.4 points to 1,634.28, with muted turnover of RM822.07 million due to year-end festivities. Blue-chip stocks, including Tenaga Nasional and Telekom Malaysia, experienced declines, while regional markets remained subdued amid global uncertainties. As 2024 approaches, investors remain cautious, balancing risks with potential opportunities.
Bursa Malaysia saw a slight dip on the final trading day of the year as investors engaged in profit-taking, reflecting the cautious sentiment that permeated regional markets. The benchmark FBM KLCI dropped 3.4 points to close the morning session at 1,634.28. Across the broader market, decliners significantly outnumbered gainers, with 505 counters in the red compared to 332 gainers.
Subdued Trading Amid Festive Season
Market activity was notably subdued, a typical trend during the year-end holiday season. Turnover remained low, with 1.33 billion shares traded, valued at RM822.07 million.
Blue-Chip Counters See Profit-Taking
Among the blue-chip stocks, several counters faced notable declines:
Gamudas Gains Lose Momentum
Gamuda, which initially saw gains following the announcement of its RM424.4 million acquisition of land in Port Dickson, failed to sustain its upward momentum. The counter closed four sen lower at RM4.74.
Activity in Smaller Counters
In the active counters, mixed performance was observed:
Regional Markets Reflect Caution
Across Asia, markets remained subdued as investors adopted a cautious approach amid uncertainties surrounding the incoming U.S. administration and its potential impact on global markets.
As 2023 gives way to 2024, market participants remain vigilant, keeping an eye on potential risks and opportunities in the new year. The cautious sentiment observed in year-end trading underscores the uncertainty that lies ahead, but also the potential for growth and recovery as markets adapt to evolving conditions.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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