KUALA LUMPUR: The FBM KLCI slipped below the 1,700 psychological level on Tuesday, remaining under pressure ahead of Wednesday’s market holiday for Aidiladha.
Dealers said investors stayed cautious amid the ongoing corporate earnings season, while fresh US military strikes on Iran added to uncertainty over prospects for a near-term end to the war.
They added that weaker market breadth and continued foreign fund outflows also weighed on overall sentiment.
At 5pm, the FBM KLCI closed down 9.48 points, or 0.55%, at 1,699.02. The index traded within a 10.63-point range between its intraday high of 1,706.77 and low of 1,696.14.
Market breadth was negative, with losers outnumbering gainers by 695 to 413. Traded volumes stood at 3.235 billion shares worth RM3.71bil.
British American Tobacco
, the top loser on Bursa Malaysia, tumbled RM1.13, or 18.31% to RM5.04. Nestle lost 82 sen to RM94.98, Heineken eased 32 sen to RM20.58 and VSTECS declined 32 sen to RM5.79.
On the other hand, Malaysian Pacific Industries surged RM1.14 to RM49.14, Allianz gained 62 sen to RM21.42, Allianz-PA rose 60 sen to RM22 and Kuala Lumpur Kepong added 42 sen to RM20.34.
In terms of fund flows, foreign investors offloaded RM129mil worth of equities on Monday.
Local institutions and retailers emerged as net buyers, with purchases totalling RM73mil and RM56mil respectively.
On the forex front, the ringgit declined 0.33% against the US dollar to 3.9662 and edged down 0.33% against the Singapore dollar to 3.1052.
Meanwhile, Brent crude rose US$2.83, or 2.93%, to US$98.96 a barrel, while U.S. West Texas Intermediate crude fell US$4.17, or 4.32%, to US$92.43 per barrel.
Around the region, MSCI’s Asia ex-Japan stock index rose 0.4%, with regional markets trading mixed
Japan’s Nikkei 225 declined 0.25% to 64,996.09 while South Korea’s Kospi closed up 2.55% at 8,047.51.
Hong Kong’s Hang Seng ended 0.03% lower at 25,599.45.
In China, CSI300 index rose 0.53% to 4,947.85 while the Shanghai Composite eased 0.17% to 4,145.37.
