KUALA LUMPUR: The FBM KLCI pared its earlier losses on Friday but still closed in the red, snapping a two-day winning streak amid a largely firmer regional market.
The FBM KLCI fell 7.03 points, or 0.41%, to 1,708.10, trading within a 10.34-point range between an intraday high of 1,715.20 and a low of 1,704.86. For the week, the benchmark index declined 1.03%.
In the broader market, trading was fairly balanced, with 523 gainers trailing 568 decliners, while 596 counters ended unchanged. Overall turnover was active, with 4.33 billion shares traded for a value of RM2.98bil.
Dealers said the local market remained under mild selling pressure despite the broadly positive regional performance, as investors locked in recent gains following the FBM KLCI’s two-day advance.
They noted that the benchmark managed to recover from its intraday low, suggesting some buying support at lower levels, although sentiment remained cautious amid continued foreign selling and softer crude oil prices.
Among the decliners, United Plantations shed 96 sen to RM32.06, Carlsberg fell 84 sen to RM13.02, Heineken declined 80 sen to RM14.84, while PETRONAS Gas eased 36 sen to RM17.26.
Buckling the weaker trend, F&N rose 38 sen to RM24.76, Nestle gained 36 sen to RM94.98, while Critical Holdings and Notion VTec added 17 sen each to RM2.04 and 68.5 sen, respectively.
Stock market data showed foreign funds remained net sellers on Thursday, with net outflows of RM75mil, while local institutions and retail investors provided some support with net purchases of RM52mil and RM22mil, respectively.
Meanwhile, the ringgit was quoted at 4.0455, down 0.07% against the US dollar, bringing its year-to-date gain to 0.84%.
Brent crude oil fell 35 cents, or 0.37%, to US$95.17 a barrel while US crude oil futures declined 53 cents, or 0.58%, to US$90.77 per barrel.
Around the region, MSCI's Asia ex-Japan index climbed 1.543%, with most major regional markets closing higher:
Japan’s Nikkei 225 closed up 1.26% at 65,020.94;
Hong Kong’s Hang Seng Index rose 1.74% to 25,650.87;
China’s CSI300 Index declined 0.09% to 4,548.05;
Taiwan’s Taiex rose 1.51% to 46,551.13;
South Korea’s Kospi advanced 1.64% to 6,687.21 and;
Singapore’s Straits Times Index rose 1.05% to 5,807.83 points.
