KUALA LUMPUR: The FBM KLCI retreated on Monday amid a cautious market and a softer ringgit, with the benchmark finishing just above the key 1,700-point level.
At closing, the 30-stock index fell 11.19 points, or 0.65%, to 1,700.84, recovering from its intraday low of 1,699.94.
There were 560 decliners, 481 gainers and 608 counters traded unchanged on the Bursa Malaysia. Turnover stood at 3.292 billion shares valued at RM2.41bil.
On Bursa Malaysia, Malaysian Pacific Industries
led the decliners, plunging RM1.06 to RM48.84. Other decliners were Nestle, which fell 92 sen to RM95.30, United Plantations, down 70 sen to RM31.96, and PPB Group, which slipped 50 sen to RM9.62.
On the upside, UMS Integration rose 32 sen to RM9.02, while SAM Engineering gained 29 sen to RM5.19. SkyeChip advanced 27 sen to RM3.36, and TMK Chemical added 21 sen to RM2.75.
A dealer said the KLCI briefly slipped below the 1,700 level during the session, reflecting the lack of buying conviction.
“While the benchmark managed to close above the psychological mark, broader market breadth remained negative with decliners outpacing gainers."
On the forex market, the ringgit weakened for a fourth consecutive session, falling 0.33% against the US dollar to 4.1512, its lowest level in seven months. The local currency has depreciated 2.17% against the greenback so far this year.
The ringgit also weakened against other major currencies, slipping 0.20% against the Singapore dollar to 3.2105, declining 0.24% versus the euro to 4.7520, and easing 0.10% against the pound sterling to 5.4802.
Around the region, MSCI’s Asia ex-Japan stock index rose 0.32%, with most regional bourses ending higher.
Japan’s Nikkei 225 surged 1.55% to 72,353.96 while South Korea’s Kospi closed up 0.69% at 9,114.55.
Hong Kong’s Hang Seng ended 0.65% lower at 23,768.52. Taiwan's benchmark surged 2.8% to close at 47,741.51 points
China’s CSI300 index rose 2.39% to 5,059.66 while the Shanghai Composite gained 1.78% to 4,163.10.
