KUALA LUMPUR: The FBM KLCI ended marginally higher on Thursday after giving up most of its intraday gains, while weakness in the broader market underscored cautious investor sentiment.
The FBM KLCI surrendered most of its intraday gains to finish just 1.4 points, or 0.08%, higher at 1,711.39. The benchmark index traded within an 11.3-point range between a session low of 1,711.31 and a high of 1,722.63.
In the broader market, decliners outnumbered advancers 678 to 493, resulting in a market breadth ratio of 0.73, suggesting that sellers continued to hold the upper hand. About 4.5 billion shares, valued at RM3.46bil, changed hands.
Dealers said the market's muted performance reflected a cautious stance among investors, with profit-taking capping gains despite positive regional cues.
They noted that buying interest remained selective, as broader market weakness pointed to a lack of conviction among investors.
Among the gainers, Allianz-PA jumped 70 sen to RM21.90, Hong Leong Industries added 66 sen to RM19.14, PETRONAS Dagangan gained 36 sen to RM18.64 and KLCC climbed 32 sen to RM9.38.
Technology and semiconductor-related stocks were among the losers on Bursa Malaysia. Malaysian Pacific Industries
lost 74 sen to RM48.56, Unisem fell 17 sen to RM4.62 and ViTrox declined 13 sen to RM7.49.
Other decliners included Nestle gave up RM1.66 to RM95.14, Paragon fell 58 sen to RM1.71 and Concrete Engineering Products declined 45 sen to RM3.71.
ACE Market debutant Sum Technology closed up 24.5 sen, or 87.5% to 52.5 sen with 193.7 million shares traded.
In the currency market, the ringgit fell 1.27% against the greenback to 4.1157, while easing 0.68% against the Singapore dollar to 3.1901.
Meanwhile, Brent crude fell US$1.79, or 2.25%, to US$77.76 a barrel, while U.S. West Texas Intermediate crude declined US$2.04, or 2.66%, to US$74.75 per barrel.
Elsewhere in the region, most Asian markets ended higher, with Japan's Nikkei 225 advancing 1.65%, South Korea's Kospi climbing 2.25% and China's CSI300 gaining 0.21%. In contrast, Hong Kong's Hang Seng Index fell 1.59%.
