FBM KLCI again closes in the red, marks 6th losing day in a row

-A +A

KUALA LUMPUR (Dec 11): The FBM KLCI ended its trading session today in the red again, marking its sixth consecutive day of decline, due largely to a lacklustre regional market.

At 5pm, the benchmark index was down 10.68 points or 0.64% to close at 1,652.63 points. Losers led gainers by 505 to 219, while 409 counters traded unchanged. Volume was 1.43 billion shares, valued at RM1.51 billion.

Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com that stock markets across Asia today were generally mixed, with no clear catalyst.

While China and Hong Kong shares went up, Japan and Korea's fell. Pong concluded that this mixed bag of results was mainly due to a shuffling or re-balancing of portfolios taken across the region.

Consequently, most of Malaysia's indexes fell into the red — with the exception of the healthcare index, which rose 6.26 points or 0.47% to settle at 1,327.27. The biggest losing index was transportation, which fell 9.77 points or 1.32% to 728.95 points.

The fall in most Southeast Asian stocks on Tuesday was because of lacklustre data from major economies, including China and Japan, which have fanned worries about global economic activity, according to the Reuters.

Regionally, Japan's Nikkei 225 fell 0.34%, while South Korea's Kospi retreated 0.04%; Hong Kong's Hang Seng Index gained 0.08%, while the Shanghai Stock Exchange Composite rose 0.37%. Philippines shares also edged 1.4% higher, ahead of the central bank policy meeting this week.