FBM KLCI buck regional trend to close higher

KUALA LUMPUR: The FBM KLCI ended higher on Wednesday, bucking the decline in most Asian markets, as investors racked up banking stocks.

At 5pm, the benchmark index rose 5.12 points, or 0.37% to 1,393.45. The market traded within a range of 11.97 points between its intraday high of 1,395.85 and a low of 1,383.88 during the session.

There were 422 gainers, 415 losers, and 437 counters traded unchanged on the Bursa Malaysia. Turnover stood at 3.06 billion shares valued at RM1.8bil.

Gainers in the FBM KLCI component stocks were led by CIMB, which contributed 1.6959 points to the index. The counter rose 11 sen to RM5.25.

Maybank added nine sen to RM8.74, pushing the index higher by 1.5683. Press Metal rose 12 sen to RM4.76, contributing 1.4293 points to the index.

Laggards in the KLCI component stocks were led by Nestle, PETRONAS Gas, Kuala Lumpur Kepong and IHH Healthcare.

On the broader market, Panasonic Manufacturing rose 62 sen to RM19.80, F&N gained 48 sen to RM25.48, Malaysian Pacific Industries slid 40 sen to RM28.30 and Hextar Technologies declined 32 sen to RM26.58.

On the external front, MSCI's broadest index of Asia-Pacific ex-Japan fell 1.03%.

Japan’s Nikkei 225 rose 0.56% to close at 33,575.14, while South Korea’s Kospi closed down 0.86% at 2,582.63.

Hong Kong’s Hang Seng index fell 1.98%, or 388.73 points to 19,218.35

China’s CSI300 index fell 1.53% to 3,864.03, while the Shanghai Composite Index lost 1.31% to 3,197.90.