KUALA LUMPUR: The FBM KLCI slipped on Monday as anticipation of a US Federal Reserve rate cut kept investors cautious and trading subdued.
The 30-stock index closed down 3.74 points, or 0.23%, at 1,612.78, with 20 of its 30 constituents declining and eight advancing.
Across the broader market, selling pressure dominated as 741 counters fell against 329 gainers, with 583 stocks flat. Total turnover reached 3.35 billion shares valued at RM2.15 bil.
Dealers said the market’s softer tone reflected investors’ wait-and-see stance ahead of an anticipated US Federal Reserve rate cut that could set the tone for regional flows.
Consumer stocks were among the top losers, with F&N sliding 34 sen to RM34.76, Ajinomoto falling 28 sen to RM13.62 and Dutch Lady
shedding 26 sen to RM18.92.
Other decliners included Kuala Lumpur Kepong, down 26 sen at RM18.92, and PETRONAS Gas, which slipped 22 sen to RM17.02.
BMS Holdings, which made its ACE Market debut today, dropped 20.45% or 4.5 sen to 17.5 sen, with 168.87 million shares traded, making it one of the most active counters on Bursa Malaysia.
On the other hand, Nestle rose 50 sen to RM112.50, Quality Concrete gained 30 sen to RM1.25, Allianz-PA added 28 sen to RM20 and United Plantations climbed 28 sen to RM28.72.
On the forex market, the ringgit slipped 0.07% to 4.1150 against the US dollar but inched up 0.06% against the Singapore dollar to 3.1738.
On the external front, Japan’s Nikkei 225 edged up 0.2% to 50,581.94, while South Korea’s Kospi rose 1.34% to 4,154.85.
Hong Kong’s Hang Seng Index fell 1.23% to 25,765.36.
China’s CSI300 Index gained 0.81% to 4,621.75, and the Shanghai Composite Index added 0.54% to 3,924.08.
