FBM KLCI wraps up 2Q higher; ringgit at one-month high

KUALA LUMPUR: Bursa Malaysia wrapped up the second quarter on a positive note, with the FBM KLCI posting modest gains amid cautious investor sentiment, while the ringgit hit a one-month high against the US dollar.

The FBM KLCI ended 4.8 points higher, or up 0.31%, at 1,532.96, after trading between an intraday high of 1,538.10 and a low of 1,526.30.

The benchmark index gained 1.3% in the second quarter but slipped 6.65% over the first half of the year.

In today’s session, 531 stocks gained while 443 declined. Trading volume stood at 3.57 billion shares, valued at RM2.7bil.

According to dealers, gains on the local bourse may remain limited as market interest stays muted, with many investors adopting a cautious stance amid a lack of strong catalysts.

They added that trading is likely to stay range-bound in the near term unless clearer signals emerge.

F&N, the top gainer on Bursa Malaysia, jumped RM1.14 to RM29.46. Malaysia Pacific Industries rose 50 sen to RM102.70, United Plantations added 32 sen to RM22.02 and Dutch Lady added 32 sen to RM29.78.

Among the losers, Nestle slid 76 sen to RM76.72, Kuala Lumpur Kepong fell 50 sen to RM20.70, Ajinomoto lost 26 sen to RM12.84 and Panasonic Manufacturing declined 22 sen to RM11.46.

Meanwhile, the ringgit was quoted at 4.2122, up 0.48% against the US dollar, and appreciated 0.42% against the Singapore dollar to 3.3050.

Key gauges across the region closed broadly higher today. Japan’s Nikkei 225 rose 0.84%, South Korea’s Kospi gained 0.52%, China’s CSI 300 added 0.37%, and the Shanghai Composite Index advanced 0.59%.

In contrast, Hong Kong’s Hang Seng Index slipped 0.9% while Singapore Straits Times Index fell 0.1%.