KUALA LUMPUR: The FBM KLCI ended a three-day losing streak, closing higher on Tuesday despite cautious market sentiment.
The 30-stock index rose 4.32 points, or 0.27%, to finish at 1,629.79. During the session, the index moved between an intraday high of 1,634.27 and a low of 1,624.50.
Market breadth turned negative as losers overpowered the gainers on a ratio of 614-to-490 stocks. Traded volumes rose to 3.91 billion shares valued at RM3.3bil.
Malaysian Pacific Industries
Bhd (MPI) was the top gainer on Bursa Malaysia, rising 70 sen to RM25.80, followed by Gamuda, which climbed 34 sen to RM5.20 and D&O Green Technologies, which rose 32 sen to RM2.35.
Conversely, Nestle slid 68 sen to RM95.80, F&N fell 42 sen to RM26.58, Tenaga Nasional lost 26 sen to RM14.32 and Arka declined 26 sen to RM1.59.
Earlier, Malaysia and Singapore announced an agreement on a special economic zone in Johor, aimed at supporting investment and facilitating the free movement of goods and people between the two countries.
Dealers expect construction stocks to see trading interest following the agreement on the Johor-Singapore Special Economic Zone (SEZ).
Meanwhile, stock market data showed that foreign investors sold a net RM56mil on Monday. Local institutions and retailers were net buyers, with RM13mil and RM43mil, respectively.
Key indices across the region showed a mixed performance, with Japan, South Korea, Singapore, and China posting gains, while Hong Kong recorded a decline.
On the forex market, the ringgit was quoted at 4.4948, up 0.37% against the US dollar. The local currency fell 0.06% against the Singapore dollar, settling at 3.3025.
US West Texas Intermediate crude fell 15 cents to US$73.41 and Brent lost four cents to US$76.26 per barrel.
