KUALA LUMPUR (Dec 9): FBM KLCI fell by 0.14% as market saw a slight pull back after the last minute push seen in the previous few days, which saw a higher close. 

At 5pm, the benchmark settled 2.33 points lower at 1,641.42, as the ringgit weakened 0.05% to trade at 4.4245 against the U.S. dollar, after strengthening from 4.4532 last Friday (Dec 2) to 4.4222 yesterday (Dec 8).

According to Etiqa Insurance and Takaful Bhd head of research Chris Eng, the decline in the market was due to a pull back, after some buying interest seen recently, which he attributed to year-end window dressing.

“I believe the window dressing season has started. The market was trading below 1,620 points just in the mid of November and we have already added 20 points since. I think we should continue to see this trend towards year-end,” Eng said.

In Malaysia, the market saw 1.24 billion shares, worth RM1.41 billion, being traded. Despite the market decline, gainers were more than decliners by 414 to 306, while another 366 counters were unchanged.

APFT Bhd was the most active counter today. Petronas Gas Bhd led gainers, while United Plantations Bhd was the top loser.

Across the region, reception was mixed with the Japanese Nikkei gaining 1.2% to 18,996.37, while Hong Kong’s Hang Seng fell 0.44%. South Korea’s Kospi also declined by 0.31%, while Singapore’s STI slipped 0.09%. 

Reuters reported Japanese stocks rose to their highest level in a year on Friday, supported by Wall Street gains and solid buying of exporters, on the back of a weaker yen.