PETALING JAYA: The FBM KLCI ended lower after a choppy session, opening in the red before climbing into positive territory by midday, only to succumb to last-minute selling.
The benchmark index slipped 4.12 points, or 0.25%, to 1,672.31, weighed down by last-minute selling.
The index traded within an eight-point range, between a low of 1,671.48 and a high of 1,679.47.
A dealer said the FBM KLCI is expected to remain volatile and range-bound in the near term, as investors navigate elevated global bond yields, higher oil prices, persistent foreign selling and geopolitical uncertainties.
“A key near-term catalyst will be Budget 2027 on Oct 9, with measures on infrastructure spending, the economy and corporate sectors potentially shaping market sentiment.
“Meanwhile, developments in US monetary policy and global trade will remain important external drivers.
“Nevertheless, the medium-term outlook remains supported by improving corporate earnings prospects,” he told StarBiz.
On the broader market, declining counters outnumbered advancing ones by a 1.6-to-one ratio, with 677 losers against 436 gainers. Turnover stood at 3.324 billion shares worth RM2.745bil.
Dealers said the late selling reflected cautious sentiment, with weakness in technology and semiconductor stocks weighing on the broader market.
They added that investors remained wary of elevated oil prices, a softer ringgit and mixed regional markets.
Among the gainers, Nestle (M) Bhd
surged RM1.96 to RM91.46, Ajinomoto (Malaysia) Bhd added 38 sen to RM19.64, Pekat Group Bhd gained 24 sen to RM2.64 and Northern Solar Holdings Bhd advanced 16 sen to RM1.18.
Moreover, technology and semiconductor stocks dominated the losers’ list, with Malaysian Pacific Industries Bhd falling RM1.08 to RM43.50, MI Technovation Bhd shedding 32 sen to RM5.81, Unisem (M) Bhd losing 24 sen to RM4.50 and Pentamaster down 23 sen to RM5.18.
On the foreign-exchange market, the ringgit declined 0.15% against the US dollar to 4.0863, but edged up 0.03% versus the Singapore dollar to 3.1920.
In the meantime, Brent crude rose US$2.82, or 2.74%, to US$105.90 a barrel, while US West Texas Intermediate crude gained US$2.24, or 2.43%, to US$94.40 per barrel.
Japan’s Nikkei 225 climbed 0.76% to 65,513.99, while South Korea’s Kospi rose 0.9% to 7,080.92.
Elsewhere, Hong Kong’s Hang Seng Index slipped 0.29% to 24,761.13, Taiwan’s Taiex fell 0.28% to 48,024.60 and Singapore’s Straits Times Index declined 0.49% to 5,681.85.
In China, the CSI 300 fell 1.73% to 4,439.14, while the Shanghai Composite declined 1.22% to 3,888.37.
