BURSA Malaysia ended the week lower, tracking Wall Street’s performance, as higher than expected inflation in the United States further diminished hopes for a jumbo US interest rate cut next month.

The US consumer price index rose at an annual pace of 2.4% in September, slightly higher than economists’ expectations of 2.3 per cent, but lower from 2.5% in August.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 7.39 points, or 0.45%, to 1,633.55 compared to Thursday’s close.

The benchmark index, which had opened 5.15 points lower at 1,635.79, moved between 1,631.89 and 1,643.07 throughout the day.

On the broader market, decliners led gainers 546 to 420, with 526 counters unchanged, 961 untraded and nine suspended.

Turnover added to 2.29 billion units valued at RM2.67 bil from 2.63 billion units valued at RM2.30 bil yesterday. – Oct 11, 2024

https://focusmalaysia.my/bursa-malaysia-closes-lower-on-weaker-us-data/