KUALA LUMPUR: FBM KLCI retreated to its day’s low on Friday as profit-taking snapped a five-day rally, tracking the weaker performance across most regional markets amid cautious investor sentiment.
The 30-stock index fell 10.79 points, or 0.61%, to 1,748.06, its intraday low, after climbing as high as 1,760.19 earlier in the session. Nevertheless, the benchmark index still gained 1.51% for the week.
Market breadth was negative, with losers outnumbering gainers by 708 to 451, reflecting weaker sentiment across the broader market. About 3.3 billion shares, valued at RM3bil, changed hands.
Dealers said profit-taking emerged after the recent rally, with investors turning cautious amid weaker regional sentiment and lingering geopolitical tensions in the Middle East.
They added that the market remained supported by selective buying interest, allowing the benchmark index to end the week with gains despite Friday’s pullback.
Among the decliners, Nestlé Malaysia slid RM1.50 to RM102.60, UMS Integration fell 29 sen to RM7.08, United Plantations declined 24 sen to RM30.80 and SD Guthrie lost 14 sen to RM6.06.
Gainers included Hong Leong Industries, which rose 96 sen to RM19.16, PETRONAS Dagangan, which added 50 sen to RM21.06, IOI Properties
, which gained 33 sen to RM4.48 and TIME dotCom climbed 21 sen to RM6.35.
Newly listed Inspace Creation closed 2%, or 0.5 sen, higher at 25.5 sen, with 49.47 million shares traded.
Meanwhile, Brent crude rose eight cents to US$100.14 a barrel, while US crude fell 45 cents to US$94.36 per barrel.
Reuters reported that the US and Iran clashed in the Gulf, while the UAE came under renewed attack, testing a month-long ceasefire. However, both sides downplayed the incidents, leaving investors uncertain.
Around the region, MSCI’s Asia ex-Japan stock index fell 0.89%, with most regional bourses ending lower. Among the key regional markets:
Japan’s Nikkei 225 closed down 0.19% to 62,713.65;
Hong Kong’s Hang Seng Index fell 0.87% to 26,393.71;
China’s CSI300 Index declined 0.58% to 4,871.91;
Taiwan’s Taiex slid 0.79% to 41,603.94;
South Korea’s Kospi closed up 0.11% to 7,498.00 and;
Singapore’s Straits Times Index lost 0.27% to 4,928.71 points.
