FBM KLCI starts December on strong footing, hits two-week high

KUALA LUMPUR: The FBM KLCI kicked off the first day of December trading on a strong note, climbing to its highest level in nearly two weeks despite a broadly cautious broader market.

The 30-stock index rose 20.10 points, or 1.25%, to 1,624.57, putting it on track for its biggest gain since Aug 1, 2025, when it climbed 1.33%.

The benchmark index is also at its highest in about two weeks, since Nov 17, when it reached 1,627.43.

Market breadth stayed in negative territory, as decliners continued to outpace advancers by 681 to 526, reflecting a broadly cautious trading sentiment despite gains in the benchmark index.

Almost four billion shares, valued at RM3.98bil, changed hands today.

Among FBM KLCI constituents, Axiata led the gainers with an 8.71% jump, or 21 sen, to RM2.62, while Kuala Lumpur Kepong was the biggest drag, sliding 5.45%, or RM1.10, to RM19.10.

On the broader market, Dutch Lady jumped RM1.40 to RM31.40, BLD Plantation added 70 sen to RM16.50 and Hong Leong Industries gained 64 sen to RM15.64.

Malaysian Pacific Industries slid 56 sen to RM31.34, Inari fell 26 sen to RM1.93 and Panasonic Manufacturing lost 15 sen to RM7.20.

On the forex market, the ringgit was little changed, edging up against the US dollar but slipping slightly versus the Singapore dollar.

The ringgit also weakened 0.37% against the euro to 4.7979, but inched up 0.02% versus the pound sterling to 5.4579.

Asian markets were mixed, with the MSCI Asia ex-Japan index flat as gains in China and Hong Kong contrasted with declines in Japan and South Korea.

Japan’s Nikkei 225 closed down 1.89% to 49,303.28, South Korea’s Kospi fell 0.16% to 3,920.37, while Hong Kong’s Hang Seng added 0.367% to 26,033.26.

China’s blue-chip CSI300 advanced 1.1% to 4,576.49 while the Shanghai Composite index rose 0.65% to 3,914.01.