FBM KLCI stays in the red as ringgit strengthens to RM4.10

KUALA LUMPUR: The FBM KLCI extended its decline for a second day, while the ringgit continued its upward momentum against the US dollar.

The ringgit rose 0.28% to 4.1090 against the US dollar, its strongest level in 14 months, last seen on Sept 30, 2024.

So far this year, the currency has appreciated about 8.8%, making it one of the region’s top performers.

At 5pm, the 30-stock index fell 1.77 points, or 0.11% to 1,621.07 after moving between its intraday high of 1,625.99 and low of 1,616.49.

Gainers and decliners were nearly balanced, with 529 gainers against 537 decliners, while 554 counters remained unchanged. Turnover came to 4.5 billion shares valued at RM2.75bil.

In today’s session, 15 KLCI-component stocks advanced, 14 declined, while the remaining one counter was unchanged.

Tenaga Nasional had the biggest drop, declining 2.65%, or 34 sen to RM12.50 while Axiata had the biggest gain, rising 4.69%, or 12 sen to RM2.68

On the broader market, Allianz fell 52 sen to RM19.98, Malaysian Pacific Industries slipped 40 sen to RM32.08 and Chin Teck eased 16 sen to RM10.86.

Meanwhile, Dutch Lady jumped 54 sen to RM32.10, F&N gained 48 sen to RM35.60 and Hong Leong Industries added 44 sen to RM16.34.

ACE Market debutant, PSP Energy, fell 1.5 sen, or 9.38% to 14.5 sen with 112.73 million shares traded.

Across the region, MSCI’s broadest index of Asia-Pacific shares ex-Japan rose 0.25% amid a mixed market performance.

Japan’s Nikkei 225 jumped 2.33% to 51,028.42, while Hong Kong’s Hang Seng Index gained 0.68% to 25,935.90.

South Korea’s Kospi slipped 0.19% to 4,028.51.

China’s blue-chip CSI300 edged up 0.34% to 4,546.57, whereas the Shanghai Composite dipped 0.05% to 3,875.79, its lowest since Nov 28.