KUALA LUMPUR: The FBM KLCI extended its uptrend for a third straight session amid thin regional trading, as several key Asian markets were closed for holidays.
At 5 pm, the benchmark index closed up 7.66 points, or 0.44%, at 1,747.43, buoyed by gains in banking and PETRONAS-linked counters. The index hit an intraday high of 1,747.82 and a low of 1,732.64.
Market breadth was mixed, with 539 gainers and 605 losers, while 599 counters were unchanged. Turnover stood at 2.86 billion shares valued at RM2.6bil.
Dealers said market sentiment stayed selective with mixed breadth, as buying was concentrated in a handful of index-linked counters while broader participation remained muted. They noted that profit-taking in consumer and technology stocks also capped gains.
They added that attention is on the overnight policy rate (OPR) Malaysia decision due this week, which could set the tone for near-term market direction.
Among the gainers, PETRONAS Dagangan rose 24 sen to RM20.34, Carlsberg gained 22 sen to RM16.74, Hong Leong Industries added 22 sen to RM17.92 and PETRONAS Chemicals climbed 22 sen to RM5.92.
In contrast, Nestle slid RM2.10 to RM101.70, Malaysian Pacific Industries
slid 50 sen to RM37.50, F&N fell 46 sen to RM29.56 and Heineken declined 20 sen to RM22.70.
MSCI’s broadest index of Asia-Pacific shares ex-Japan fell 0.34%, with markets in Japan, South Korea and China closed for a holiday.
Hong Kong’s Hang Seng ended 0.76% lower, while Singapore’s Straits Times Index slipped 0.3%.
Meanwhile, Reuters reported that oil prices fell more than 1% after surging by as much as 6% in the previous session, amid signs the US Navy is easing Iran’s grip on the Strait of Hormuz.
Brent crude dropped US$1.99, or 1.74%, to US$112.45 a barrel, while US West Texas Intermediate crude fell US$2.74, or 2.57%, to US$103.69 per barrel.
