Cautious sentiment weighs on Bursa
KUALA LUMPUR: Bursa Malaysia fell for a fifth straight session on Tuesday, as cautious sentiment weighed on buying pattern ahead of US Federal Reserve chairman’s speech in the Jackson Hole meeting.
At closing, the FBM KLCI slipped 4.8 points, or 0.32% to 1,482.57, dragged down by losses in banks and plantations stocks.
Broader market sentiment was weak, with 467 losers outpacing 407 gainers and 416 counters which traded unchanged. Turnover was at 2.03 billion shares worth RM1.55bil.
Along with investors' profit-taking, dealers said investors were also concerned about the Federal Reserve's policy tightening.
Kuala Lumpur Kepong, the top loser on Bursa Malaysia, lost 84 sen to RM21.76. Batu Kawan fell 60 sen to RM23.70, Panasonic Manufacturing shed 60 sen to RM26.30 and Carlsberg declined 30 sen to RM23.68.
Among the gainers, Hengyuan jumped RM1.29 to RM5.59, Petron surged RM1.02 to RM5.86 and Can-One added 22 sen to RM3.99.,
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Meanwhile, the ringgit was quoted at 4.4880, down 0.04% against the US dollar.
US West Texas Intermediate crude rose US$1.65 to US$92.01 a barrel and Brent added US$1.47 to US$97.95 per barrel.
On the external front, MSCI’s Asia ex-Japan stock index was lower by 0.73%.
Japan’s Nikkei 225 fell 1.19% to 28,452.75 while South Korea’s Kospi closed down 1.1%, at 2,435.34.
Hong Kong’s Hang Seng ended 0.78% lower at 19,503.25.
China’s CSI300 index fell 0.49% to 4,161.08 while the Shanghai Composite eased 0.05% to 3,276.22.