in

FBM KLCI falls for second straight day, down 5.33 points

KUALA LUMPUR: The local bourse trended lower for the second straight session mainly dragged by banking and plantations stocks.

The FBM KLCI closed down 5.33 points, or 0.34% to 1,578.91 after moving between 1,589.06 and 1,575.18. Year-to-date, the index has fallen some 2.97%.

Broader market sentiment continued to be weak, with 650 losers outpacing 382 gainers and 469 counters traded unchanged. About 6.27 billion shares, valued at RM3.22bil, changed hands.

Analysts said some bargain hunting emerged in certain bashed-down stocks, but the upside was capped.

Among the heavyweights, Maybank fell three sen to RM8.31, Public Bank declined two sen to RM4.20, Tenaga lost six sen to RM10.16 and Petronas Dagangan shed 14 sen to RM19.80.

Sime Darby Plantation fell 18 sen to RM4.49, IOI Corp declined five sen to RM4.16 and KLK lost 16 sen to RM22.70.

Hartalega added 19 sen to RM9.14, Supermax rose 11 sen to RM3.94, and Top Glove gained nine sen to RM4.77.

On Bursa Malaysia, MPI surged 76 sen to RM40.46, F&N gained 46 sen to RM30.56 and BAT added 36 sen to RM13.74.

ViTrox, the top loser on Bursa Malaysia fell 60 sen to RM15.70. Dataprep shed 47 sen to RM1.10, Petronas Gas lost 22 sen to RM15.64 and Unisem declined 21 sen to RM8.20.

Meanwhile, Bursa Malaysia data showed that foreign funds continued to sell down their stakes in Malaysian equities on Monday while retail investors upped their shareholdings.

Foreign funds and local institutions sold RM42mil and RM19mil worth of equities on Bursa Malaysia respectively. Retail investors bought RM61mil of local equities.

Reuters reported that oil prices rose on Tuesday supported by strong economic data from China and the US, recouping some of the losses from the previous session due to rising OPEC+ supply and infections in India and parts of Europe.

U.S. West Texas Intermediate (WTI) crude was last traded at US$59.99 while Brent crude at US$63.51 per barrel.

Reference