KUALA LUMPUR: The FBM KLCI ended slightly lower on Monday as cautious sentiment prevailed, with investors keeping a close watch on external developments and mixed regional markets.
The 30-stock index closed 2.29 points, or 0.13%, lower at 1,696.56, after trading between an intraday high of 1,701.18 and a low of 1,688.46.
Market sentiment was cautious, with 619 counters finishing lower, 402 higher and 499 unchanged. Turnover stood at 2.4 billion shares worth RM2.6bil.
Apollo Food
was the top loser on Bursa Malaysia, declining 32 sen to Rm5.57. PPB Group fell 26 sen to RM11.14, Allianz lost 24 sen to RM21.16 and Nestle declined 20 sen to RM102.20.
Among the gainers, United Plantations rose 70 sen to RM33.26, PETRONAS Dagangan added 64 sen to RM21.90, Malayan Cement gained 47 sen to Rm6.62 and Concrete Engineering Products climbed 40 sen to Rm1.75.
Dealers said the market remained cautious as investors monitored external developments, particularly geopolitical tensions and movements in regional markets.
They added that the cautious mood limited gains despite pockets of buying interest in selected heavyweights.
On the forex market, the ringgit strengthened 0.17% against the US dollar to 3.9323 and inched up 0.2% against the Singapore dollar to 3.0688.
Around the region, markets were mixed. Japan’s Nikkei 225 fell 0.13% to 53,751.15, while South Korea’s Kospi rose 1.14% to 5,549.85.
Hong Kong’s Hang Seng gained 1.45% to 25,834.02. China’s CSI300 index edged up 0.05% to 4,671.56, while the Shanghai Composite slipped 0.26% to 4,084.79.
Reuters reported that Indonesian stocks slid to an eight-month low while the rupiah hovered near the 17,000-per-US dollar level as investors worried the country could breach its fiscal deficit limit amid rising oil prices.
Concerns grew after President Prabowo Subianto said he may allow a temporary breach of the 3% deficit cap if oil prices remain elevated due to the Middle East conflict.
