KUALA LUMPUR: The FBM KLCI ended lower on Monday, dragged down by index-linked banking stocks amid weaker regional markets.
At the close, the FBM KLCI fell 1.9 points, or 0.12% to 1,606.85, recovering from an intraday low of 1,603.21.
Losers thumped gainers at 656 to 424 while 513 counters were unchanged. Turnover rose to 3.16 billion securities valued at RM2.45bil.
Among the FBM KLCI’s component stocks, Public Bank contributed the most to the index decline. The counter fell three sen to RM4.50, dragging the index lower by 0.8457.
Maybank closed down two sen at RM10.12, contributing a decline of 0.3505 points to the index, while CIMB lost three sen to RM8.10, pulling the index down by 0.4674 points.
Gainers among the component stocks include Kuala Lumpur Kepong, Sime Darby, and PETRONAS Gas.
On the broader market, BLD Plantation
fell 60 sen to RM10.88, Hong Leong Industries lost 18 sen to RM14.48, United Plantations jumped 64 sen to RM32 and Dutch Lady added 24 sen to RM30.56.
ACE-Market debutant, Topvision added one sen, or 3.03% to 34 sen with 53.53 million shares traded.
Meanwhile, the ringgit was quoted at 4.4525 against the greenback, down 0.06%.
The ringgit extended its six-session decline, falling 0.1% to its lowest since Dec. 4, under pressure from expectations of higher headline inflation in Friday's data release, Reuters reported.
Reuters noted that while Bank Negara Malaysia is expected to keep rates unchanged at its Jan 22, 2025 meeting, analysts believe the lack of a clear inflation target could allow for potential rate cuts in 2025 if economic growth slows significantly.
Elsewhere in the region, Japan’s Nikkei 225 fell 0.03%, South Korea’s Kospi declined 0.22%, China’s CSI 300 Index lost 0.54% and Hong Kong’s Hang Seng Index closed down 0.88%.
