KUALA LUMPUR: The FBM KLCI extended its losing streak to a seventh straight session on Thursday, closing at its intraday low amid mixed performances across regional markets.
The 30-stock index closed 9.33 points, or 0.54%, lower at 1,708.36, its intraday low, after reaching a high of 1,722.50 earlier in the session.
The index has fallen about 2.4% over the past seven sessions and is on track to end the week in the red.
There were 508 gainers, 656 losers and 565 counters traded unchanged on the Bursa Malaysia. Turnover stood at 3.49 billion shares valued at RM3.7bil.
Dealers said bargain hunting emerged in selected blue chips following the recent market weakness, although overall sentiment remained cautious.
They added that investor interest remained focused on newly listed and recently debuted stocks, with strong trading activity seen in SkyeChip and EI Power.
Among the decliners, Kuala Lumpur Kepong fell 44 sen to RM20.22, while Allianz dropped 40 sen to RM21.18. Batu Kawan eased 28 sen to RM20.60, PETRONAS Gas declined 28 sen to RM16.92, and PETRONAS Chemicals lost 25 sen to RM5.45.
EI Power, which debuted on the ACE Market today, closed 14.58%, or seven sen, higher at 55 sen. It was the most actively traded counter on Bursa Malaysia, with 179.28 million shares transacted.
SkyeChip remained in focus after its Wednesday listing, with 86.13 million shares traded, making it the second most active counter on Bursa Malaysia. The counter rose 12 sen to RM2.33.
Among the top gainers on Bursa Malaysia, Malaysian Pacific Industries
surged RM2 to RM46.20, while Nestle rose RM1 to RM96. Hong Leong Bank gained 46 sen to RM22.20, while UWC added 44 sen to RM5.83.
Around the region, MSCI’s Asia ex-Japan stock index rose 2.52%.
Japan’s Nikkei 225 climbed 3.14% to 61,684.14, marking its biggest one-day gain since May 7.
South Korea’s KOSPI surged 8.42% to 7,815.59, its highest close since May 14 and biggest daily advance since April 1.
In China, the CSI 300 Index fell 1.4% to 4,783.10, while the Shanghai Composite Index tumbled 2.04% to 4,077.28, its steepest single-day drop since March 23.
Hong Kong’s Hang Seng Index declined 1.03% to 25,386.52.
Meanwhile, Reuters reported that Indonesian markets remained under pressure on Thursday amid concerns over the government’s commodity control measures, weighing on the rupiah and equities.
Jakarta stocks slid nearly 4%, hovering near a more than one-year low after losing 15% over the past eight sessions.
