Bursa Malaysia plunged into the red as more than 1,000 stock counters declined amid weak buying interest and investors attracted to foreign markets.
The FBM KLCI ended with a loss of 12.12 points (0.75%) to 1,612.12 with 21 of its component stocks ending lower.
The index hit a low in the morning session around 1,609.65.
Investors argue that risk sentiment remains subdued due to geopolitical tensions in the Middle East.
Overall market sentiment was negative with 1,162 counters losing against 127. Meanwhile, 271 counters were unchanged.
The total turnover was 2.62 billion units worth RM1.7 billion.
According to TA Securities, the local market traded in a bearish trend towards the end of the week as investors await further clues from the global economy on growth momentum, inflation and monetary policy.
Index support is at 1,616, 1,608 and 1,586 which are the 30-day, 50-day and 100-day moving average levels respectively. Meanwhile, the resistance level remains at the recent highest position which is 1,638, 1,640 and 1,660 as higher obstacles are more difficult.
Among the heavyweights, Maybank fell 6.0 sen to RM10.20, Public Bank fell 3.0 sen to RM4.23, Tenaga Nasional fell 10 sen to RM14, CIMB Group fell 5.0 sen to RM7.38 and IHH Healthcare fell 7.0 sen to RM6. .25.
Of the active stocks, Dataprep Holdings and Hubline, respectively decreased by half a sen to 20.5 sen and 12.5 sen while Ta Win, Jaks Resources and Velesto Energy, respectively, were unchanged at 3.0 sen, 16.5 sen and 22 sen.
