PETALING JAYA: Bursa Malaysia closed lower yesterday on profit-taking across the board, amid a mixed performance in regional peers as investors awaited the release of United States inflation data.

       At 5pm, the benchmark FBM KLCI was 7.48 points or 0.46% easier at 1,597.13, its intraday low, compared with Monday’s close of 1,604.61, reported Bernama.

       The barometer index opened 0.74 of-a-point easier at 1,603.87 and hit a high of 1,603.98 in the morning session.

       On the broader market, losers beat gainers 578 to 340, while 444 counters were unchanged, 891 untraded and 12 others suspended.

       Total turnover decreased to 3.90 billion units worth RM2.44bil from 4.40 billion units worth RM2.37bil on Monday.

       Rakuten Trade Sdn Bhd vice-president of equity research, Thong Pak Leng, said regionally, key indices closed mixed as investors continued to monitor high inflation and tighter monetary policy expected in the United States and the Covid-19 lockdowns in China.

       He said China would release its trade data today, with the United States releasing retail sales and University of Michigan consumer sentiment data a day later.

       Back home, the FBM KLCI moved in a tight consolidation mode since the middle of last month as investors remained cautious as a result of heightened regional volatility.

       “We foresee the benchmark index remaining in range-bound mode for the time being due to cautious sentiment although foreign buying and bargain-hunting may emerge as well,” he said.

       Thong expects the FBM KLCI to hover within the 1,590 to 1,610 range for the remainder of the week, with immediate resistance at 1,620 and support at 1,580.

       Japan’s Nikkei 225 lost 1.81% to 26,334.98, South Korea’s Kospi inched down 0.98% to 2,666.76 and Singapore’s Straits Times Index shed 0.99% to 3,330.25, while Hong Kong’s Hang Seng Index gained 0.52% to 21,319.13.

       On the home front, heavyweights Malayan Banking Bhd fell three sen to RM8.82 and IHH Healthcare Bhd dropped four sen to RM6.36.

       Petronas Chemicals Group Bhd rose six sen to RM10.26, while Public Bank Bhd and CIMB Group Holdings Bhd were flat at RM4.67 and RM5.33, respectively.

       Of the active counters, Vizione Holdings Bhd rose 2.5 sen to 10.5 sen, Tanco Holdings Bhd added 16 sen to 55.5 sen, Vortex Consolidated Bhd gained three sen to 19.5 sen, ATA IMS Bhd perked up 9.5 sen to 53 sen, while CSH Alliance Bhd was flat at 14 sen.