FBM KLCI finishes lower despite positive market breadth


KUALA LUMPUR: The FBM KLCI ended in negative territory on Friday despite the broader-market breadth indicating most stocks are gaining ground.

The benchmark FBM KLCI closed at 1,481.80, down 0.65% or 9.71 points, taking its full-week drop to 0.32%, or 4.74 points.

Broader market sentiment was positive, with 541 losers outpacing 406 gainers and 416 counters which traded unchanged. Turnover was at 3.35 billion shares valued at RM2.28bil.

Investors are awaiting for Prime Minister Datuk Seri Anwar Ibrahim to announce his Cabinet line-up at 5pm. He presented the proposed Cabinet list to the Yang di-Pertuan Agong on Friday morning.

Sources have indicated that this will only involve a partial Cabinet, as negotiations for several portfolios are still ongoing, The Star reported.

In terms of fund flows, foreigners and local institutions were net buyers, acquiring equities worth RM78mil and RM51mil respectively on Thursday. Retailers sold equities worth RM128mil.

In today’s session, 15 of the KLCI-component stocks closed lower while nine counters chalked up gains.

Among the KLCI constituents, Kuala Lumpur Kepong shed 60 sen to RM20.88, PETRONAS Chemicals fell 15 sen to RM8.52, Tenaga lost 12 sen to RM9.38 and CIMB declined 11 sen to RM5.64.

Nestle rose 50 sen to RM138, PPB added 16 sen to RM17.26, PETRONAS Gas gained 10 sen to RM16.92 and Sime Darby Plantation climbed nine sen to RM4.50.

Meanwhile, the ringgit was quoted at 4.3848, up 0.49% against the US dollar.

US light crude oil fell 28 cents to US$80.94 and Brent eased 20 cents to US$86.68 per barrel.

Elsewhere in the region, Japan’s Nikkei 225 fell 1.59%, Hong Kong’s Hang Seng Index closed down 0.33%, South Korea’s Kospi lost 1.84% and Singapore’s Straits Times Index eased 0.89%.

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KLCI , FBM KLCI , Bursa Malaysia

   

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