KUALA LUMPUR: The FBM KLCI closed almost flat on Monday, with investor sentiment subdued ahead of Bank Negara’s policy meeting this week.
The market barometer ended 0.41 of a point, or 0.02%, lower at 1,712.33 after recovering from an intraday low of 1,704.64, with the index touching an intraday high of 1,712.33.
Market breadth turned negative, with losers outnumbering gainers by 779 to 359. With more than twice as many stocks declining as advancing, bearish sentiment persisted as selling pressure weighed on the broader market.
Turnover stood at 3.08 billion shares valued at RM2.74bil.
A dealer said local equities traded cautiously ahead of Bank Negara’s policy decision this week, with investors adopting a wait-and-see approach. Sentiment was also shaped by mixed performances across regional markets.
On Bursa Malaysia, Malaysian Pacific Industries
emerged as the top loser, sliding 76 sen to RM33.72. United Plantations fell 50 sen to RM31.20, while KLCC lost 23 sen to RM9.01.
The intraday short selling (IDSS) of IJM and SMRT Holdings was suspended today after both stocks breached the prescribed price limit, having declined more than 15% or 15 sen from their respective reference prices.
IJM closed down 15 sen at RM2.65, with 108.57 mil shares traded, while SMRT fell 26 sen to 18.5 sen.
A local news portal reported that the Malaysian Anti-Corruption Commission (MACC) is gathering information on allegations of a RM2.5bil money laundering scheme linked to senior executives at IJM, following a probe by the UK’s Serious Fraud Office.
Among the gainers, Allianz-PA surged RM1.52 to RM21.88, Allianz jumped RM1.24 to RM21.68, Hong Leong Financial Group rose 62 sen to RM21.58 and PETRONAS Dagangan added 42 sen to RM21.08.
Meanwhile, the ringgit was quoted at 4.0547 against the US dollar, up 0.08%, but eased 0.09% versus the Singapore dollar to 3.1529.
In the region, Japan’s Nikkei 225 fell 0.65%, while South Korea’s Kospi rose 1.32%. Hong Kong’s Hang Seng Index slid 1.05%, whereas China’s CSI300 edged up 0.06% and the Shanghai Composite Index gained 0.29%.
