KUALA LUMPUR: The FBM KLCI managed to eke out modest gains on Tuesday even as overall market sentiment stayed cautious, with more than 900 stocks ending lower.
At 5pm, the FBM KLCI edged up 1.08 points, or 0.07%, to 1,623.50, its highest level since Oct 10, after trading between 1,621.22 and 1,630.91 during the day.
Over 900 stocks fell against 321 gainers, giving a breadth ratio of 2.8 to 1, as broad-based selling pressure weighed on the market.
Trading volume was brisk at 3.6 billion shares valued at RM2.64bil.
Dealers said the broader market may continue to see mixed trading as investors rotate between sectors amid the absence of strong catalysts.
They noted that with over 900 stocks down, overall sentiment remains fragile, suggesting any upside potential could be limited.
Among FBM KLCI constituents, PPB Group was the top gainer, rising 20 sen or 1.77% to RM11.50, while Petronas Chemicals was the biggest decliner, falling 14 sen or 3.56% to RM3.79.
On the broader market, PJBumi topped the decliners’ list, plunging 75 sen to RM1.77. Chin Teck Plantations
slipped 56 sen to RM10.42, Malaysian Pacific Industries fell 44 sen to RM30.56, while Allianz eased 28 sen to RM18.02.
Conversely, Hong Leong Bank jumped 32 sen to RM21.24, F&N rose 26 sen to RM28.18, Kuala Lumpur Kepong added 22 sen to RM21 and Heineken climbed 20 sen to RM21.52.
Reuters reported that most Asian currencies weakened and regional equities traded mixed on Tuesday, as divisions among U.S. Federal Reserve policymakers dampened risk sentiment.
The ringgit was quoted at 4.1962 against the U.S. dollar, up 0.1%, and rose 0.19% to 3.2160 against the Singapore dollar.
On the external front, key Asian markets ended lower, with South Korea’s Kospi falling 2.37%, Japan’s Nikkei 225 shedding 1.74%, and Hong Kong’s Hang Seng closing down 0.79%. China’s CSI300 Index slipped 0.75%, while Singapore’s Straits Times Index eased 0.58%.
