KUALA LUMPUR (Feb 28): The FBM KLCI fell 0.07 point on late selling of index-linked Petronas Gas Bhd and MISC Bhd and as global investors waited for US President Donald Trump's speech to Congress later today. Trump's speech will be closely watched for his cue on the US's policies.

At 5pm, the KLCI closed at 1,693.77 points after vacillating between positive and negative territories. The index erased gains during its final trading minutes after reaching its intraday high at 1,697.25 points.

Petronas Gas fell 26 sen to close at RM20.02 while MISC declined 16 sen to RM7.42. Petronas Gas and MISC were Bursa Malaysia's fifth and eighth-largest decliners respectively.

JF Apex Securities Bhd senior analyst Lee Cherng Wee said the KLCI had been in profit taking mode after the index topped 1,700 points.

"There's nothing much going on in the market currently. There has been some profit taking activity after the index registered gains over the past few months," Lee said.

Bursa Malaysia saw 2.42 billion shares worth RM2.89 billion exchanged. Decliners beat gainers at 625 versus 317 respectively.

Across Asian share markets, Japan's Nikkei 225 gained 0.06% while Hong Kong's Hang Seng fell 0.77%.

Reuters reported that Asian shares lost their grip on Tuesday but were still on track for a winning month, bolstered by gains on Wall Street as investors awaited a speech by Trump for signals on tax reform and infrastructure spending.