KUALA LUMPUR: The FBM KLCI extended its losing streak to six consecutive sessions on Friday, capping a bruising week as persistent selling pressure dragged the benchmark index to its lowest close of the week.
At the close, the FBM KLCI stood at 1,582.59 points on Friday, down 3.37 points, or 0.21%, marking its fifth consecutive session of losses. On a weekly basis, the benchmark index shed 33.99 points, or 2.10%.
The broader market remained weak as selling pressure persisted, with 686 losers outnumbering 369 gainers, while 497 counters were unchanged. Trading volume stood at 2.84 billion shares valued at RM2.36bil.
Dealers said investors remained cautious amid the ongoing corporate earnings reporting season, with sentiment weighed down by persistent selling pressure.
However, a dealer said bargain hunting and bottom-fishing activities could emerge at current levels, potentially providing some support to the market.
Among the top losers, Nestle fell RM1.94 to RM93, Malaysian Pacific Industries
dropped RM1.32 to RM37.20, ViTrox shed 60 sen to RM9.50, Kuala Lumpur Kepong declined 52 sen to RM20.86 and MI Technovation slipped 50 sen to RM5.75.
Other decliners included F&N, which lost 36 sen to RM19.78, Heineken fell 34 sen to RM13.54 and Chin Teck Plantations dropped 32 sen to RM10.32.
On the upside, Mega Fortris gained 23 sen to RM1.24, RHB Bank rose 20 sen to RM7.73, Sarawak Oil Palms advanced 17 sen to RM5.48 and Hengyuan Refining added 15 sen to RM2.75.
Master-Pack Group and P.I.E. Industrial also gained 12 sen each to RM1.54 and RM1.62, respectively.
Meanwhile, oil prices edged higher on Friday but remained on track for a second straight weekly decline as the US blockade of Iran eased fears of renewed Middle East conflict, Reuters reported.
Brent crude rose 59 cents, or 0.62%, to US$96.41 a barrel, while US crude futures gained 35 cents, or 0.39%, to US$89.09 a barrel.
Around the region, MSCI's Asia ex-Japan index declined 0.48%, with most major regional markets closing lower.
Hong Kong's Hang Seng Index slid 1.55% to 23,637.60;
South Korea's Kospi eased 0.98% to 5,290.53;
Singapore's Straits Times Index fell 0.91% to 5,234.81;
China's CSI300 Index declined 0.68% to 4,016.29;
Taiwan's Taiex advanced 1.35% to 43,675.12; and
Japan's Nikkei 225 rose 0.53% to 61,142.35 points.
