Bursa Malaysia reverses early gains to end lower

KUALA LUMPUR: The FBM KLCI reversed its earlier gains to end Monday lower, as its index declined 0.16% on profit-taking in selected heavyweights.

At closing, the 30-stocks index declined 2.51 points to 1,519.97 after moving between 1,533.80 and 1,518.73.

There were 511 gainers, 456 losers and 470 counters traded unchanged on the Bursa Malaysia. Turnover stood at 4.82 billion shares valued at RM3.43bil.

Among the 30 FBM KLCI constituents, Petronas Dagangan fell 30 sen to RM18.74, Hong Leong Financial Group shed 22 sen to RM17.66, Kuala Lumpur Kepong eased eight sen to RM19.72 and Telekom Malaysia declined eight sen to RM6.02.

Sime Darby Plantation rose nine sen to RM3.69, IHH Healthcare added six sen to RM5.75 and Tenaga gained six sen to RM9.76.

On the broader market, Genetec tumbled 90 sen to RM16.98, MPI lost 90 sen to RM41.70, K Seng Seng fell 40 sen to 94 sen,

Among the gloves, Top glove fell four sen to RM3.93, Hartalega added five sen to RM7.58, Kossan eased one sen to RM3.31 and Supermax declined three sen to RM3.39.

Meanwhile, Oil prices fell after an agreement over the weekend within the Opec+ group of producers to boost output at a time when the outlook for demand is still cloudy.

Brent crude was down US$2.13, or 2.89%, at US$71.46 a barrel while US crude oil was down US$2.14, or 2.98% per barrel.

Elsewhere in the region, MSCI's Asia ex-Japan stock index was lower by 1.39%.

Japan’s Nikkei 225 fell 1.25% to 27,652.74 while South Korea’s Kospi closed down 1%, at 3,244.04, marking the lowest close since July 9.

Hong Kong’s Hang Seng index was down 514.90 points, or 1.84%, at 27,489.78.

China’s CSI300 index was up 0.37% to 5,113.49 while the Shanghai Composite index was little-changed at 3,539.12.