KUALA LUMPUR: Bursa Malaysia extended its losses for a third straight day on Wednesday, with more than 700 counters declining amid a mixed regional backdrop.
The FBM KLCI fell 6.87 points, or 0.39%, to 1,740.94. The benchmark traded within a 22.51-point range, touching an intraday high of 1,749.43 and a low of 1,726.92.
Market breadth was negative, with 746 decliners outpacing 367 gainers, reflecting continued weakness in overall market sentiment. Trading activity was brisk, with almost three billion shares worth RM4.07bil changing hands.
A dealer said the local market remained under pressure amid cautious regional sentiment, with investors trimming positions in selected heavyweights despite foreign buying.
He added that near-term trading is likely to stay range-bound as investors await clearer global cues and fresh domestic catalysts.
Among the decliners, Dutch Lady
lost 88 sen to RM32.20, Maybank slid 36 sen to RM12, Telekom Malaysia fell 29 sen to RM7.46 and Amway gave up 26 sen to RM5.11.
On the other hand, Sunway Construction rose 35 sen to RM7.25, PETRONAS Dagangan gained 32 sen to RM22.28, Nestle added 30 sen to RM110.80 and Allianz climbed 22 sen to RM22.30.
Whitman, which debuted on the LEAP Market of Bursa Malaysia today, closed up 50%, or five sen to 15 sen with 60,000 shares traded.
In terms of fund flows, foreign investors and local retailers were net buyers on Wednesday, purchasing equities worth RM20mil and RM17mil, respectively.
Local institutions were net sellers, offloading RM37mil worth of shares.
On the forex market, the ringgit strengthened 0.14% against the US dollar to 3.8875 but fell 0.06% against the Singapore dollar to 3.0776.
Asian markets closed mostly lower, despite a record-breaking surge in South Korea’s KOSPI.
Japan’s Nikkei 225 rose 0.3% to 58,753.39, while the KOSPI jumped 3.67% to a record 6,307.27, extending its winning streak to six sessions.
In contrast, Hong Kong’s Hang Seng Index fell 1.44% to 26,381.02. China’s CSI 300 slipped 0.19% to 4,726.87, while the Shanghai Composite Index was nearly flat, edging down 0.014% to 4,146.63.
