KUALA LUMPUR: The FBM KLCI extended its losing streak to a sixth consecutive session on Wednesday, tracking weaker regional markets as cautious investor sentiment continued to weigh on risk appetite.
The FBM KLCI fell 9.58 points, or 0.55%, to close at 1,717.69, recovering from its intraday low of 1,716.47 after reaching a high of 1,727.50 earlier in the session, weighed down by losses in PETRONAS-linked stocks.
All indices on Bursa Malaysia ended lower, except for the Bursa Malaysia Plantation Index and the Bursa Malaysia Industrial Products & Services Index.
Market breadth was negative, with losers outnumbering gainers 840 to 366. With more than twice as many stocks falling as advancing, bearish sentiment weighed on the broader market.
Trading activity was brisk, with 4.15 billion shares worth RM4.29bil changing hands.
Among the decliners, Heineken slid RM1.02 to RM21.40, PETRONAS Gas lost 52 sen to RM17.20, PETRONAS Dagangan fell 38 sen to RM18.82 and Wasco declined 20.5 sen to 89.5 sen.
SkyeChip stole the spotlight on its Main Market debut, soaring 151.14%, or RM1.33, to close at RM2.21 from its IPO price of 88 sen.
The semiconductor-related stock emerged as Bursa Malaysia’s top gainer and most actively traded counter of the day, with 292.84 million shares changing hands as strong buying interest lifted the stock throughout the session.
Other gainers on Bursa Malaysia included Malaysian Pacific Industries
, which rose RM1 to RM44.20, F&N, which added 50 sen to RM29.22, Allianz-PA, which gained 40 sen to RM22, and Sunway Construction, which climbed 30 sen to RM7.60.
Meanwhile, Bursa Malaysia suspended intraday short-selling for Oppstar for the rest of the trading day after the stock’s last done price dropped by more than 15% or 15 sen from its reference price.
The short-selling activity will resume on May 21 at 8.30 am. The counter fell 21.21%, or 17.5 sen, to 65 sen, with 111.33 million shares traded.
In terms of fund flows, foreign investors were net sellers on Bursa Malaysia on Tuesday, with net outflows amounting to RM256mil.
Local institutions and retailers were net buyers, recording net purchases of RM202mil and RM55mil, respectively.
On the external front, MSCI’s Asia ex-Japan stock index was lower by 0.52%.
Japan’s Nikkei 225 slid 1.23% to 59,804.41 while South Korea’s Kospi closed down 0.86% at 7,208.95.
Hong Kong's benchmark Hang Seng Index was down 0.57% at 25,651.12.
China's blue-chip CSI300 Index closed 0.04% lower at 4,850.70, while the Shanghai Composite Index lost 0.18% to 4,162.18.
