KUALA LUMPUR: The FBM KLCI traded in a choppy range on Friday amid cautious sentiment over Middle East tensions, while the ringgit slipped past 4.00 against the US dollar.
The market bellwether ended 1.76 points, or 0.1%, higher at 1,712.65, off its intraday high of 1,716.28.
Losers thumped gainers 606 to 415, while 564 counters were unchanged. Turnover stood at nearly three billion shares worth RM3.25bil.
Dealers said trading remained cautious as investors stayed on the sidelines amid heightened geopolitical tensions and a firmer US dollar.
They added that the ringgit’s weakness and foreign outflows continued to weigh on sentiment, limiting upside in the local market.
On Bursa Malaysia, F&N emerged as the top gainer, surging RM1.06 to RM30.76, followed by Nestle, up RM1.06 to RM99.06, PETRONAS Gas, which advanced 80 sen to RM18.42, and Sunway, which added 24 sen to RM5.47.
On the downside, Mega Fortris tumbled 23.5 sen to 76.5 sen, Hong Leong Bank fell 20 sen to RM22.30, UWC declined 16 sen to RM4.08, and United Plantations gave up 14 sen to RM33.46.
Meanwhile, the ringgit slipped past the key 4.00 level against the US dollar at midday, trading at 4.0092, down 0.39%, as external headwinds weighed on the local currency.
The weakness reflects a firmer US dollar, as high oil prices fuel inflation concerns and reinforce expectations of a more hawkish Federal Reserve, alongside ongoing geopolitical tensions that have dampened risk appetite.
Foreign investors were net sellers, offloading RM113mil worth of equities on Thursday, while local institutions and retailers were net buyers at RM83mil and RM30mil, respectively.
Around the region, MSCI’s Asia ex-Japan stock index fell 0.63%, with regional markets ending mixed, skewed slightly to the downside. Among the key regional markets:
Japan’s Nikkei 225 closed down 0.43% to 53,373.07;
Hong Kong’s Hang Seng Index rose 0.38% to 24,951.88;
China’s CSI300 Index added 0.56% to 4,502.57;
Taiwan’s Taiex fell 0.68% to 33,112.59;
South Korea’s Kospi declined 0.4% to 5,438.87 and;
Singapore’s Straits Times Index rose 0.21% to 4,898.18 points.
