FBM KLCI tumbles 15.31 points as investors in risk-off mood
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KUALA LUMPUR: The FBM KLCI extended its downtrend on Wednesday as investors abstained from taking up positions ahead of the US Federal Reserve's Jackson Hole symposium.
At 5pm, the benchmark index closed down 15.31 points, or 1.03% at 1,467.26. The index high an intraday high of 1,487.97 and a low of 1,464.83.
The broader market displayed its weakness as profit-takers triumphed over bargain-hunters. There were 359 gainers, 506 losers and 400 counters traded unchanged on the Bursa Malaysia.
About 2.89 billion shares, valued at RM1.74bil, changed hands.
According to data on Bursa Malaysia, foreign funds and retailers were net buyers on Tuesday acquiring equities worth RM14mil and RM26mil respectively.
Local institutions emerged as net sellers with total disposals valued at RM40mil.
On Bursa Malaysia, Nestle tumbled 70 sen to RM133.50, PPB Group lost 46 sen to RM16, PETRONAS Dagangan eased 40 sen to RM21.94 and Dutch Lady declined 32 sen to RM32.40.,
Khind jumped 32 sen to RM3.21, Malaysian Pacific Industries rose 22 sen to RM33, PMB Technology added 21 sen to RM3.51 and United Plantations climbed 18 sen to RM14.48.
Meanwhile, US West Texas Intermediate crude rose US$1.27 to US$95.01 a barrel and Brent lost US$1.41 to US$101.63 per barrel.
Among the key regional markets:
Japan’s Nikkei 225 closed down 0.49% to 28,313.47;
Hong Kong’s Hang Seng Index lost 1.2% to 19,268.74;
China’s Shanghai Composite Index closed down 1.86% to 3,215.20;
Taiwan’s Taiex fell 0.18% to 15,069.19 and
South Korea’s Kospi advanced 0.5% to 2,447.45 points.