FBM KLCI turns positive at 11th hour

KUALA LUMPUR: The FBM KLCI vacillated between gains and losses on Wednesday before closing firmer, lifted by last-minute buying.

At 5pm, the market barometer was up 5.42 points, or 0.37% to 1,480.11, after falling to a low of 1,461.18.

The overall market breadth was negative with decliners outnumbering gainers 564 to 367, while 387 counters were unchanged.

Total turnover stood at 2.65 billion units worth RM1.82bil.

Fraser & Neave was the top gainer on Bursa Malaysia, rising 32 sen to RM21.72, followed by PETRONAS Gas, which rose 32 sen to RM17.12, Allianz, which gained 28 sen to RM14.20 and Quality Concrete added 27 sen to RM1.32.

Among the decliners, Nestle fell 90 sen to RM138.10, Malaysian Pacific Industries lost 74 sen to RM28.92 and Hextar Technologies eased 58 sen to RM16.12.

Top Glove, the most active counter on Bursa Malaysia, fell three sen to 89.5 sen with 103.9 million shares traded.

On the external front, Japan’s Nikkei 225 closed down 107.37 points, or 0.41%, at 26,340.50 while South Korea’s Kospi ended down 2.24% to 2,280.45.

China’s CSI 300 Index ended lower 0.4%, while the Shanghai Composite Index lost 0.3%.

Hong Kong’s Hang Seng rose 1.56% to 19,898.91 and Singapore’s Straits Times closed down 0.1%.