KUALA LUMPUR: Malaysia's benchmark stock index is staying mostly flat on the final trading day of 2023 as investors digest recent gains before the close.
At 12.30pm, the FBM KLCI was down 0.63 points to 1,456.78, while the broader market was negative with 429 decliners to 342 gainers.
Trading volume was 2.64 billion shares valued at RM1.49bil.
Regionally, equities markets are putting a pause on the rally after a signal from the US Federal Reserve that interest rate cuts are set to being to next year helped to shore up risk appetite.
At present, the CME FedWatch tool is pricing in an 88% change the US central bank will make its first rate cut in March, sending investors into a buying spree.
In Japan, the Nikkei, one of the region's leading performers with a 30% advance over the past year, was down 0.5% on Friday to 33,366.
South Korea's Kospi extended its gains by 1.6% to 2,655, to end 2023 on a 19% advance over the previous year.
China's market, however, did not fare as well given concerns over slowing economic growth. The Shanghai composite index was down nearly 5% over the year. As at midday, the index eked out a 0.3% gain to 2,964 with hours left to the close.
Hong Kong's Hang Seng, meanwhile, was also on the backfoot for the year, having lost over 15%. The index was down 0.45% to 16,966 in Friday's morning session.
