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Faced with an uncertain outlook, many research firms have downgraded Pharmaniaga, which has triggered Practice Note 17 (PN17), to a sell. But the company's fortunes could change for the better if it manages to reverse its inventory impairments
Bursa Malaysia ended the morning session mixed, with the key index rising by 0.39%, boosted by sustained buying interest in selected heavyweights.
Bursa Malaysia gave up earlier gains to end in negative territory on Wednesday (Dec 7), in line with the weak sentiment in regional markets, following negative cues from Wall Street overnight. At 5pm, the benchmark FBM KLCI index stood at 1,466.88, down 4.67 points or 0.32%, from Tuesday's closing at 1,471.55.
Bursa Malaysia was lower in early trade on Wednesday (Dec 7), taking its cue from the weak Wall Street performance overnight, as traders were concerned about a potential hard landing for the US economy amid fresh recessionary fears.
Bursa Malaysia opened on a positive note on Monday (Nov 7), driven by buying interest in energy stocks and gains on Wall Street last Friday, said a dealer. At 9.05am, the benchmark FBM KLCI had climbed 1.29 points to 1,439.57, from last Friday's close at 1,438.28.