KUALA LUMPUR: The benchmark FBM KLCI pared early gains to settle the negative territory on Monday while consumers counters were in focus.
At 5pm, the 30-stock index was down marginally by 0.34 of a point to 1,779.75. The index opened 1.67 points firmer at 1,781.76 this morning.
There were 309 stocks advancing against 467 stocks declining while 492 counters unchanged. Volume stood at 2.123 billion units worth RM1.7bil.
Dealers said market sentiment was muted as lack of fresh lead despite overnight gain in US market.
Stock market data showed foreign funds were net buyers at RM3.9mil. Local institutions were net buyers at RM1.6mil while retailers net sellers also at RM5.5mil.
According to MIDF Research, foreign funds were net buyers at RM348.9mil last week. So far in 2018, global funds have been net buyers of Malaysian stocks for 15 out of 31 weeks.
Foreign net outflows have been gradually receding over the past three months.
Consumer counters like Heineken Malaysia
was the top gainer, up 58 sen to RM22.94, Nestle rose 40 sen to RM147.70, F&N gained 34 sen to RM37.88 and Panasonic Manufacturing added six sen to RM39.10.
Top losers on Bursa Malaysia included Allianz-PA, which fell RM1 to RM12.40 while United Plantations declined 86 sen to RM27.02.
Petronas Gas, one of the laggards in the FBM KLCI component stocks, dragged the index down by 1.618 points. It closed 46 sen lower at RM18.62. Maxis eased six sen to RM5.62, pushing the index down by 0.834 points.
Elsewhere in the region, China’s stocks stumbled as Beijing and Washington engaged in a fresh bout of tariff threats, Reuters reported.
The Shanghai Composite index and the blue-chip CSI300 index both closed 1.3% lower on Monday, having erased earlier gains. The Hang Seng index finishing up 0.5%.
The Nikkei ended 0.1% lower at 22,507.32 after swinging between positive and negative territory throughout the day.
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