KLCI closes at day's low, breadth turns negative

KUALA LUMPUR: The FBM KLCI saw its gains reversed at market close, ending 0.14% lower, after staying in positive territory for most of the day.

At 5pm, the 30-stock index closed down 2.07 points, or 0.14% at 1,523.86, its intraday low.

Market breadth turned negative as losers outnumbered the gainers on a ratio of 524-to-388 stocks. About 3.26 billion shares, valued at RM1.96bil, changed hands.

Dealers said investors continued to trade cautiously on concerns over inflation and rising US interest rates.

Stock market data showed foreign funds and local institutions were net sellers on Bursa Malaysia at RM32mil and RM12mil respectively on Tuesday. Retailers were net buyers at RM44mil.

On Bursa Malaysia, Dutch Lady and F&N jumped 70 sen each to RM33.60 and RM20.50 respectively.

LGMS, which debuted on the ACE Market of Bursa Malaysia today, rose 34.5 sen to 84.5 sen with 247 million shares traded.

Among the losers, Nestle tumbled RM1.20 to RM132.60, PPB fell 56 sen to RM16 and Petronas Dagangan lost 54 sen to RM21.10.

Elsewhere in the region, Japan’s Nikkei 225 rose 1.04%, Hong Kong’s Hang Seng Index closed up 2.24%, South Korea’s Kospi closed down a negligible 0.0072% and China’s CSI300 gained 0.97%.