KUALA LUMPUR: The FBM KLCI ended lower for a third consecutive session on Wednesday, tracking mixed regional markets as investors remained cautious amid geopolitical tensions that pushed oil prices to near six-week highs.
The market barometer fell nine points, or 0.52%, to 1,711.37. The benchmark index traded within a 12.16-point range, between its intraday high of 1,721.31 and low of 1,709.15.
Decliners outpaced gainers 590 to 401, while 371 counters were unchanged. About 3.43 billion shares, valued at RM2.51bil, changed hands.
A dealer said investor sentiment remained cautious as escalating geopolitical tensions in the Middle East prompted a risk-off mood across regional markets, although firmer crude oil prices helped cushion losses in selected oil and gas counters.
Among the decliners, Nestle slid RM1.60 to RM91.52, Hong Leong Industries fell 44 sen to RM18, Batu Kawan declined 40 sen to RM20.90 and UMS Integration lost 29 sen to RM7.90.
In contrast, Malaysian Pacific Industries
jumped 92 sen to RM47.76, United Plantations rose 30 sen to RM34.04, PETRONAS Gas gained 28 sen to RM17.68 and KESM added 17 sen to RM4.25.
On the forex front, the ringgit strengthened 0.08% against the US dollar to 4.0857 and gained 0.14% against the Singapore dollar to 3.1657.
Oil prices rose to near six-week highs on Wednesday amid mounting concerns about disruptions to key Middle Eastern supply routes, Reuters reported.
Brent crude rose US$3.19, or 3.51%, to US$94.20 a barrel, while U.S. West Texas Intermediate crude gained US$3.32, or 3.94%, to US$87.66 per barrel. Both benchmarks touched their highest levels since mid-June.
Elsewhere in the region, MSCI's Asia ex-Japan stock index fell 0.21%, while regional markets traded mixed.
Japan's Nikkei 225 slipped 0.18% to 66,115.60, while South Korea's Kospi rose 0.74% to 6,797.70.
Hong Kong's Hang Seng Index declined 0.95% to 24,892.66.
China's CSI 300 Index fell 0.46% to 4,717.24, while the Shanghai Composite Index was little changed at 3,867.03.
