KUALA LUMPUR: The FBM KLCI closed lower on Monday, mirroring the broader regional markets, as concerns over U.S. President Donald Trump's criticism of Federal Reserve Chair Jerome Powell dampened investor sentiment.
The market barometer dropped 13.22 points, or 0.88%, to 1,486.25, after reaching an intraday high of 1,492.44 and a low of 1,482.70.
All indices on Bursa Malaysia ended lower, except for the Bursa Malaysia Plantation Index.
In the broader market, 630 counters declined while only 302 advanced, dragging market breadth down to a weak 0.48.
Turnover rose to 3.43 billion securities valued at RM1.66bil.
Stock market data showed that foreign investors sold a net RM101mil worth of equities on Monday, while local institutions emerged as net buyers with RM101mil.
Dealers expect market sentiment to remain subdued as attention shifts to the US Federal Reserve following U.S. President Donald Trump’s criticism of Fed Chair Jerome Powell.
They expect retail investors to remain on the sidelines amid a lack of fresh leads, keeping market conditions subdued for now.
Among the decliners on Bursa Malaysia, Hong Leong Bank slid 44 sen to RM19.54, PETRONAS Dagangan lost 38 sen to RM19.12, Malaysian Pacific Industries
fell 26 sen to RM14.84 and Sunway Construction declined 25 sen to RM4.09.
Gainers included Kotra, which added 20 sen to RM4.20, Allianz, which rose 20 sen to RM17.54, Ayer, which increased 20 sen to RM7.50, and Carlsberg, which gained 12 sen to RM18.96.
Meanwhile, the ringgit was quoted at 4.3828 against the US dollar, down 0.3%, after strengthening to its highest level in nearly six months on Monday.
It rose 0.12% against the euro to 2.0404, but slipped 0.16% against both the pound sterling at 5.8659 and the Singapore dollar at 3.3598.
Asian bourses closed mixed today, with Japan’s Nikkei 225 down 0.17%, Hong Kong’s Hang Seng Index up 0.78%, and South Korea’s Kospi slipping 0.07%.
China’s CSI 300 Index edged down 0.02%, while the Shanghai Composite Index gained 0.25%.
