KLCI falls 13.32 points, tracking regional losses

KUALA LUMPUR: The FBM KLCI extended its losses on Friday as banking and glove counters retreated in line with regional markets.

At 5pm, the benchmark index closed down 13.32 points, or 0.87% to 1,524.48. For the week, the index dropped 0.5% on a weekly basis.

Broad market sentiment continued to be weak, with 757 losers outpacing 269 gainers and 361 counters which traded unchanged. Turnover was at 3.96 billion shares valued at RM2.72bil.

Malaysian Pacific Industries Bhd (MPI) was the top decliner, falling 90 sen to RM44.50, followed by PMB Technology, which lost 46 sen to RM11.40, and KESM, which shed 46 sen to RM12.14.

Sungei Bagan Rubber Company jumped 39 sen to RM3.60, Hong Seng Consolidated added 30 sen to RM2.72, Kluang Rubber Company gained 26 sen to RM3.94 and Aeon Credit rose 24 sen to RM12.60.

Among the KLCI component stocks, Kuala Lumpur Kepong fell 24 sen to RM19.80, Hartalega shed 15 sen to RM6, Maxis lost 15 sen to RM4.54 and Top Glove declined 12 sen to RM2.70.

Maybank closed unchanged at RM8.05, Public Bank declined three sen to RM4.04, CIMB fell eight sen to RM4.70, RHB Bank added three sen to RM5.49 and Hong Leong Bank gained 20 sen to RM19.10.

Reuters reported that oil fell below US$78 a barrel on Friday on the prospect that OPEC+ producers might step up a planned increase in output to ease supply concerns.

US light crude oil fell 61 cents to US$74.42 and Brent lost 49 cents to US$77.82 per barrel.

Asian bourses closed lower today. MSCI's gauge of stocks across the globe shed 0.27% on Friday to touch the lowest since July 20.

Japan's Nikkei 225 lost 2.31%, South Korea’s Kospi fell 1.62% and Taiwan Taiex shed 2.15%.

Chinese markets are closed from Oct 1-7 for the Golden Week holiday.