KUALA LUMPUR: The FBM KLCI closed lower on Monday, mirroring regional losses, as the collapse of U.S.-Iran peace talks weighed on investor sentiment and dampened risk appetite across the market.
The 30-stock fell 10.79 points, or 0.64%, to 1,680.52, after moving between an intraday high of 1,685.52 and a low of 1,675.64.
Market breadth was negative, with 760 decliners against 402 gainers, reflecting broad-based selling pressure. Traded volumes stood at 2.94 billion shares worth RM2.64bil.
Dealers noted that sentiment remained fragile as the breakdown of U.S.-Iran peace talks continued to weigh on markets.
They added that investors were largely on the sidelines, with selling pressure dominating despite selective buying in heavyweight counters.
Among the decliners, F&N slipped 62 sen to RM29.18, Batu Kawan fell 40 sen to RM21.02, Hong Leong Bank eased 38 sen to RM21.70, while Hong Leong Financial Group shed 22 sen to RM18.60.
On the upside, Nestle advanced 90 sen to RM99.00, Allianz-PA gained 70 sen to RM21.98, PETRONAS Dagangan added 50 sen to RM21.30, and PMB Technology rose 27 sen to RM1.84.
Meanwhile, the ringgit slipped 0.25% against the US dollar to 3.9755 and eased 0.12% against the Singapore dollar to 3.1155.
Reuters reported that Brent crude futures jumped 7% to US$102 a barrel, marking a gain of more than 40% since the war disrupted navigation through the Strait of Hormuz.
U.S. West Texas Intermediate rose US$7.31, or 7.6%, to US$103.88 a barrel, rebounding after a 1.33% decline in the previous session.
On the external front, MSCI’s Asia ex-Japan index slipped 0.85%.
Japan’s Nikkei 225 fell 0.74% to 56,502.77 while South Korea’s Kospi closed down 0.86% at 5,808.62.
Hong Kong’s Hang Seng ended 0.9% lower at 25,660.85.
In contrast, China’s CSI300 rose 0.21% to 4,646.16, and the Shanghai Composite edged up 0.06% to 3,988.56.
