Bursa Malaysia Drops Ahead of Busy Week

Bursa Malaysia's main index closed marginally lower on July 28 as investors became cautious ahead of a busy week that includes the US Federal Reserve's policy meeting and earnings releases from major US technology companies.

The FTSE Bursa Malaysia KLCI (FBM KLCI) slid 0.61 of a point or 0.04% to 1,712.48 from yesterday's close of 1,713.09.

IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said trading activity was subdued as market participants awaited greater clarity on the Fed's interest rate outlook and whether second quarter earnings from the technology sector can sustain the global artificial intelligence (AI)-driven rally.