KUALA LUMPUR (March 31): The FBM KLCI fell 0.24 point as investors took profit from the index's gains in recent days. The KLCI closed at 1,717.58 points today, after reaching an intraday low at 1,713.22.
 
Yesterday, the KLCI rose 2.78 points after climbing 12.63 points on Tuesday. The KLCI had gained in recent days, as the ringgit strengthened after the US Federal Reserve Chair Janet Yellen said the central bank should be cautious in its interest rate hike assessment.

The ringgit had also strengthened with the yuan, after China allowed its currency to trade firmer against the U.S, dollar.

Today, the ringgit continued its positive streak, as the currency strengthened to 3.8995 against the US dollar at 5pm. The intraday exchange rate was between 3.8920 and 3.9360.
 
On the KLCI, Etiqa Insurance & Takaful research head Chris Eng said the index's performance in the second quarter would hinge on Malaysian first quarter corporate financials.

Corporate financials for the January to March quarter will be announced in May.

Eng told theedgemarkets.com today: “We are anticipating a drop in index points in the second quarter due to first quarter corporate earnings, which are expected to be weak."

Bursa Malaysia saw 1.8 billion shares, valued at RM2.54 billion, traded. There were 406 decliners against 397 winning counters.

Parkson Holdings Bhd call warrants PARKSON-CP and PARKSON-CO were the most actively-traded counters.

Top gainer was Nestle (M) Bhd, while leading decliners included Teo Guan Lee Corp Bhd and Hap Seng Consolidated Bhd.