KUALA LUMPUR: The FBM KLCI closed lower on Tuesday despite gains across most regional markets, as investors remained cautious on the local front.
The FBM KLCI closed down 7.04 points, or 0.43% at 1,611.74, just a tad higher than its intraday low of 1,611.25. The index hit an intraday high of 1,620.99.
Winners and losers were closely balanced, with 556 gainers against 588 losers and 569 that were flat. About 4.4 billion shares, valued at RM2.82bil, changed hands.
Dealers said investors adopted a selective trading stance amid lingering external uncertainties and the absence of strong domestic catalysts, while assessing the likelihood of a potential Federal Reserve rate cut next month.
They added that attention remains focused on the ongoing stream of corporate earnings releases.
Among the decliners, Nestle slipped RM2 to RM110, Hong Leong Bank fell 94 sen to RM21.28, Heineken lost 50 sen to RM22.48 and PETRONAS Dagangan eased 38 sen to RM20.62.
Gainers included Malaysian Pacific Industries
, which surged RM1.38 to RM33.04, Kuala Lumpur Kepong, which rose 32 sen to RM21.04, Dutch Lady, which added 26 sen to RM29.30, and United Plantations, which advanced 24 sen to RM28.60.
Newly listed Polymer Link closed flat at 25 sen with 55.94 million shares traded.
On the forex market, Asian currencies posted marginal gains, with the ringgit edging up 0.05% to 4.1375 against the US dollar. The local currency, however, eased to 3.1736, down 0.08% against another major unit.
Reuters reported that the Indonesian rupiah rose about 0.2%, while the Philippine peso, Singapore dollar and Thai baht were little changed.
On the external front, Japan’s Nikkei 225 rose 0.07%, Hong Kong’s Hang Seng Index added 0.7%, South Korea’s Kospi gained 0.3%, and China’s CSI300 climbed 0.95%, while the Shanghai Composite advanced 0.87%.
