Thu Sep 12 09:21:00 UTC 2024: ## Malaysian Stock Market Ends Lower Despite Regional Gains

**KUALA LUMPUR** – The FBM KLCI, Malaysia’s benchmark stock index, closed lower on Thursday, bucking the trend of a broadly higher regional market. The index lost 1.49 points, or 0.09%, ending at 1,638.31, despite trading within a narrow range between 1,649.87 and 1,637.91.

While gainers outnumbered losers with 669 companies advancing and 353 declining, a net volume of 2.6 billion shares worth RM2.94 billion changed hands.

Nestle was the biggest decliner, dropping 50 sen to RM100, followed by Hong Leong Bank (-30 sen to RM21.20), Paragon (-26 sen to RM3.10), and Arka (-14 sen to RM1.91).

However, Malaysian Pacific Industries led the gainers, climbing 54 sen to RM27.36, followed by United Plantations (+48 sen to RM27.50), ViTrox (+25 sen to RM3.35), and Ajinomoto (+24 sen to RM14.94).

Foreign investors were net sellers on Wednesday, offloading RM130 million worth of shares, while local institutions and retailers were net buyers, purchasing RM113 million and RM17 million, respectively.

The Malaysian Ringgit weakened against the US dollar, closing at 4.3355, down 0.13%. It strengthened slightly against the Singapore dollar (up 0.08% to 3.3222) and the Euro (up 0.09% to 4.7764).

Across the region, MSCI’s Asia ex-Japan stock index climbed 1.5%. Japan’s Nikkei 225 advanced 3.41% to 36,833.27, while South Korea’s Kospi rose 2.34% to 2,572.09.

Hong Kong’s Hang Seng Index also saw gains, rising 0.77% to 17,240.39. However, China’s blue-chip CSI300 index fell 0.43% to 3,172.47, and the Shanghai Composite index dropped 0.17% to 2,717.12.

**Analysts attributed the FBM KLCI’s downward movement to a shift in market sentiment despite positive developments in other Asian markets, particularly Singapore, where equities reached a six-year high due to increased foreign investment and positive economic forecasts.**

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