FBM KLCI under selling pressure
KUALA LUMPUR: The FBM KLCI ended lower on the last trading day of the quarter but closed above its intraday low amid mixed regional markets.
The 30-stock index slid 11.18 points, or 0.67%, to 1,648.91, which above its intraday low of 1,647.28.
For the month, the index declined by 1.78%, but it rose by 3.7% for the quarter.
In the broader market, losers outnumbered gainers 652 to 488, with 4.06 billion shares worth RM3.2bil changing hands.
Today's losses were driven by declines in CIMB Group
, MISC, and Tenaga Nasional.
CIMB fell by 19 sen to RM8.05, contributing a decline of 2.943 points to the index. MISC dropped 29 sen to RM7.80, pushing the index down by 1.8714 points. Tenaga Nasional decreased by 22 sen to RM14.44, nudging the index lower by 1.8488 points.
Meanwhile, Genting rose 11 sen to RM4.23, RHB Bank added eight sen to RM6.18 and QL Resources climbed eight sen to RM4.68.
On the broader market, Malaysian Pacific Industries fell 28 sen to RM26.60, Allianz lost 26 sen to RM20.30, United Plantations rose 28 sen to RM26.18 and Heineken added 26 sen to RM23.36.
On the forex market, the ringgit was down 0.9% against the greenback to 4.2060, 1% against the pound sterling to 5.4951 and 4.7002
On the forex market, the ringgit led gains among Asian currencies, climbing to its highest in over three years. The local unit rose 0.04% against the greenback to 4.1237.
Reuters reported earlier that the ringgit rose as much as 0.6%, the most among emerging Asian currencies, and was trading at 4.099 per U.S. dollar
The Malaysian currency has had a stellar quarterly run, advancing around 12.6%, making it the best performing currency of the year among emerging Asian currencies.
Around the region, MSCI's Asia ex-Japan stock index was higher by 0.15%.
Japan’s Nikkei 225 tumbled 4.8% while South Korea’s Kospi closed down 2.13%.
Hong Kong’s Hang Seng Index closed up 2.43%. China’s CSI300 surged 8.48% while Shanghai Composite Index jumped 8.06%.
Reuters reported that Chinese stocks have been on a tear since China rolled out a flurry of stimulus measures last week and over the weekend to jolt the beaten-down market and revive a slowing economy.
China's markets are closed from Tuesday for a week-long holiday.
