KUALA LUMPUR: The FBM KLCI finished lower on Monday as investors stayed cautious heading into the final stretch of the corporate earnings season, despite stronger regional markets.
The benchmark index fell 4.17 points, or 0.24%, to 1,708.50 after trading between an intraday high of 1,713.50 and a low of 1,705.94.
There were 441 gainers, 630 losers and 584 counters traded unchanged on the Bursa Malaysia. Turnover stood at 3.124 billion shares valued at RM3.17bil.
Dealers said cautious sentiment persisted ahead of the final batch of corporate earnings announcements, although buying interest in technology and semiconductor counters helped limit losses on the local bourse.
Among the decliners, Allianz-PA slid 66 sen to RM21.40, Malaysian Pacific Industries
lost 50 sen to RM48, PETRONAS Chemicals fell 36 sen to RM5.34 and Kuala Lumpur Kepoing declined 32 sen to RM19.92.
Technology and semiconductor counters continued to draw buying interest, with Unisem emerging as Bursa Malaysia’s top gainer after climbing 35 sen to RM4.85. Mi Technovation added 33 sen to RM4.53, UMS Integration rose 25 sen to RM8.42, while VSTECS gained 22 sen to RM6.11.
On the forex market, the ringgit strengthened 0.37% against the US dollar to 3.9530 and inched up 0.16% against the Singapore dollar to 3.0952.
Reuters reported oil prices fell more than US$5 to two-week lows on Monday as hopes grew for a US-Iran peace deal, despite lingering disputes over the Strait of Hormuz blockade.
Brent crude fell US$4.93, or 4.76%, to US$98.61 a barrel, while U.S. West Texas Intermediate crude lost US$4.88, or 5.05%, to US$91.72 per barrel.
On the external front, MSCI’s Asia ex-Japan stock index rose 1.3%.
Japan’s Nikkei 225 surged 2.87% to a record high of 65,158.19, while South Korea’s Kospi closed up 0.41% at 7,847.71.
Hong Kong’s Hang Seng ended 0.86% higher at 25,606.03.
China’s CSI300 index advanced 1.58% to 4,921.60 while the Shanghai Composite added 0.96% to 4,152.57.
