KUALA LUMPUR (Dec 23): The FBM KLCI ended the day down 6.05 points or 0.37% at 1,617.15, with plantation, property and banking stocks mostly registering losses.
Trading volume was thin ahead of the Christmas holidays.
"Sector wise, the plantation, property and finance sector stocks were down today," said Inter-Pacific Securities Sdn Bhd Head of Research Pong Teng Siew.
"Next week, however, we can expect to see some year-end window dressing activities from the local funds," he told theedgemarkets.com.
Turnover on Bursa Malaysia was 972.62 million shares valued at RM1.1 billion. Losers led gainers by 443 to 249, while 365 counters closing unchanged.
Plantation counter Kuala Lumpur Kepong Bhd was among the day's top losers, after it was announced that its share offer for MP Evans Group Plc's shares had lapsed.
Also down were two counters that are part of the diversified Hong Leong Group — Malaysian Pacific Industries Bhd and Hong Leong Financial Group Bhd.
Gainers included Dutch Lady Milk Industries Bhd and Aeon Credit Service (M) Bhd.
The most actively traded counter was Borneo Oil Bhd, with 98.22 million shares traded.
On the global front, Reuters reported that European stocks edged higher today helped by banks after two regional bellwethers settled US mortgage securities probes, while oil and the dollar were on the back foot in light trading ahead of the Christmas break.
"In another boost to European financials, a bailout for Italy's oldest bank Monte dei Paschi was approved as the country's government looks to end a protracted banking crisis that has gummed up the economy," said the report.
Asian markets were mostly down, with Hong Kong's Hang Seng index closing 0.28% lower and China's CSI300 index 0.84% lower. Japan's stock market was closed today in conjunction with the Emperor's birthday.
At press time, the ringgit traded at 4.4750 against the US dollar, compared with its close of 4.4770 yesterday.
Against the Singapore dollar, the ringgit traded at 3.0949, weaker than the 3.0937 level yesterday.