KUALA LUMPUR: Selling in banking and telco stocks dragged the FBM KLCI to end at its intraday low today in line with the downbeat performance on regional bourses.
The FBM KLCI pulled back 8.28 points, or 0.6% to 1,377.67, its fourth straight session in negative territory. For the week, the index rose marginally by almost one point.
Market breadth turned negative as losers outpaced gainers on a ratio of 435-to-304 stocks. Turnover was at 1.97 billion shares valued at RM1.41bil.
The KLCI-component stocks were overwhelmingly negative, with 23 losers and three gainers while four closed unchanged.
Maybank and CelcomDigi were the top two contributors to the loss in the benchmark index, falling six sen each to RM8.67 and RM4.05, respectively. The two counters dragged the index lower by 2.049 points.
Kuala Lumpur Kepong lost 30 sen to RM22.54, IOI Corp fell nine sen to RM3.75 and MISC declined seven sen to RM6.99.
On the broader market, Rapid tumbled 64 sen to RM21.18, Dutch Lady fell 28 sen to RM20.52, YNH Property lost 11 sen to RM4.84 and Hextar Technologies declined 10 sen to RM27.50.
Hong Leong Industries rose 13 sen to RM9.01, Kluang Rubber added 10 sen to RM3.80, Teck Guan Perdana gained 10 sen to RM1.69 and Malaysia Smelting Corp climbed nine sen to RM2.22.
Elsewhere in the region, Japan’s Nikkei 225 closed down 1.17%, South Korea’s Kospi fell 1.16%, China’s Shanghai Composite Index declined 0.28% and Hong Kong’s Hang Seng Index ended down 0.9%.
– The Star