KUALA LUMPUR: The FBM KLCI closed lower on Thursday, ending at its intraday low as losses in heavyweight blue-chip stocks outweighed gains across broader regional markets.
The benchmark index reversed earlier gains to close 18.31 points, or 1.09%, lower at 1,663.82, its intraday low, after climbing to a day's high of 1,685.17, weighed down by losses in PETRONAS-linked stocks.
There were 478 gainers against 623 decliners, while 534 counters were unchanged. About 3.2 billion shares, valued at RM2.9bil, changed hands.
Dealers said profit-taking in heavyweight stocks, amid weaker crude oil prices, dragged the benchmark lower despite a broadly positive regional market.
They added that buying interest remained selective, with gains in technology stocks helping to cushion the broader sell-off.
Among the top decliners, United Plantations tumbled RM1.32 to RM32.30, Press Metal
Aluminium Holdings fell 50 sen to RM7.79, Kuala Lumpur Kepong lost 38 sen to RM21.22, while MISC shed 31 sen to RM7.79.
Leading gainers were Malaysian Pacific Industries, which surged RM2.12 to RM49.00, F&N, up 78 sen to RM28.18, ViTrox, which gained 50 sen to RM7.85, and Kelington Group, which climbed 40 sen to RM7.97.
According to Bursa Malaysia data, foreign investors were net sellers of RM77mil worth of equities on Wednesday, while retailers and local institutions were net buyers of RM38mil and RM40mil, respectively.
Meanwhile, oil prices extended their decline to near levels last seen before the start of the Iran war.
Brent crude was down US$1.21, or 1.64%, at US$72.53 a barrel while US crude oil was down 98 cents, or 1.39% to US$69.36 per barrel.
Around the region, MSCI's Asia ex-Japan stock index rose 1.39%, with regional markets broadly higher.
Japan's Nikkei 225 surged 4.61% to close at 72,366.34, while South Korea's Kospi jumped 5.42% to 8,930.30.
Hong Kong's Hang Seng Index bucked the regional trend, falling 1.43% to 23,076.91, while Taiwan's Taiex gained 0.46% to end at 46,255.26.
In mainland China, the CSI300 Index rose 1.56% to 5,020.10, while the Shanghai Composite Index edged up 0.23% to 4,120.28.
