KUALA LUMPUR: The FBM KLCI fell for a third straight session, mirroring regional weakness as cautious sentiment continued to weigh on the market.
The 30-stock index ended 3.73 points, or 0.23% lower at 1,611.46, after recovering slightly from an intraday low of 1,610.05.
All indices on Bursa Malaysia ended lower, except the Consumer Products & Services Index, which managed to hold in positive territory.
Market breadth turned negative as losers outpaced gainers by 811 to 390. With just over twice as many stocks falling, selling pressure remained firm and the bears kept the upper hand, reflected in a breadth ratio of 0.53. About 3.65 billion shares, valued at RM3.8bil, changed hands.
Dealers said market sentiment remained weak as persistent selling kept the market in negative territory, though trading activity stayed brisk with higher overall volumes suggesting continued investor participation.
On Bursa Malaysia, Malaysian Pacific Industries
emerged as the top loser, declining RM1.26 to RM29.04. It was followed by PETRONAS Gas, which slid 38 sen to RM18.56 and PETRONAS Dagangan which declined 30 sen to RM22.70.
Among the gainers, Nestle jumped RM2.50 to RM102.10, F&N added 44 sen to RM28.10 and Malayan Cement climbed 14 sen to RM6.82.
Genting Malaysia, the most actively traded stock on Bursa Malaysia, climbed 18 sen to RM2.32 with 242.59 million shares changing hands, while Genting Bhd advanced 15 sen to RM3.01 on a volume of 36.82 million shares.
Genting has made a conditional voluntary take-over offer for all the shares in Genting Malaysia it does not already own for RM2.35 cash per share.
On the external front, Asian markets ended lower, with Japan’s Nikkei 225 down 2.58% and South Korea’s Kospi falling 0.63%.
Hong Kong’s Hang Seng Index fell 1.73%. China’s CSI 300 Index lost 1.2% while the Shanghai Composite Index declined 0.62%.
