KUALA LUMPUR: The FBM KLCI snapped its winning streak on profit-taking, ending the session slightly lower as selling pressure weighed on the broader market.
The 30-stock closed 1.21 points, or 0.07%, lower at 1,677.10 after trading between an intraday high of 1,678.29 and a low of 1,670.83. For the week, the benchmark index gained 0.67%, or 11.2 points.
Market breadth remained negative, with 504 decliners outnumbering 377 gainers, indicating continued selling pressure across the broader market.
On Bursa Malaysia, BLD Plantations slid 88 sen to RM14.42, Ideal Capital fell 25 sen to RM3.40, Panasonic Manufacturing
lost 20 sen to RM3.40, and PLB Engineering declined 20 sen to 80 sen.
On the other hand, Malayan Cement rose 29 sen to RM7.63, Hume Cement Industries added 20 sen to RM3.35, Malaysian Pacific Industries gained 18 sen to RM32.60, and Hong Leong Bank climbed 18 sen to RM22.42.
Among the banks, Maybank fell six sen to RM10.40, Hong Leong Bank added 18 sen to RM22.42, RHB Bank rose six sen to RM7.80 and CIMB climbed four sen to RM8.15.
Public Bank and AmBank closed unchanged at RM4.52 and RM6.43, respectively.
Meanwhile, the ringgit was last quoted at 4.0463, up 0.02% against the US dollar, bringing its year-to-date gain to about 10%.
The region’s best-performing currency in 2025 has risen more than 1% this week and is on track for its strongest weekly performance since mid-May, Reuters reported.
“We have maintained our end-2025 forecast of 4.08/USD since May, but see scope for the ringgit to end the year closer to 4.00/USD. That level is likely to present strong resistance,” Kenanga Research said.
The research house said seasonal US dollar strength in the first quarter of 2026, coupled with a still resilient US growth narrative, could push the ringgit back towards the 4.05–4.10 level against the US dollar early in the year.
“Beyond that, the ringgit should gradually strengthen towards its long-term fair value as structural support for the US dollar continues to erode,” Kenanga said.
In terms of fund flows, foreign funds and retailers were net sellers on Wednesday, offloading equities worth RM172mil and RM6mil respectively.
Local institutions emerged as net buyers with total purchases worth RM178mil.
On the external front, Asian markets ended mixed, with Japan’s Nikkei 225 rising 0.68% to 50,750.39 and South Korea’s Kospi gaining 0.51% to 4,129.68.
Taiwan’s Taiex closed 0.65% higher at 28,556.02, while China’s CSI300 advanced 0.32% to 4,657.24 and the Shanghai Composite added 0.1% to 3,963.68.
