FBM KLCI extends losing streak for fourth straight session
KUALA LUMPUR: The FBM KLCI has extended its decline for a fourth consecutive session on Wednesday, underscoring a deepening risk-off sentiment across Malaysia's equity market, said an analyst.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.07 points, or 0.26 per cent, to 1,544.80 from Tuesday's close of 1,548.87.
The benchmark index opened 4.07 points higher at 1,552.94 and fluctuated between 1,542.47 and 1,553.84 throughout the trading session.
In the broader market, losers thumped gainers 649 to 342, while 464 counters were unchanged, 963 untraded, and seven suspended.
Turnover increased to 3.27 billion units worth RM2.16 billion against 2.61 billion units worth RM1.98 billion on Tuesday.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan noted that foreign investors remained net sellers on both Monday and Tuesday, amplifying the sell-off as external macroeconomic and geopolitical headwinds continue to dominate investor positioning.
"Market sentiment remains fragile as global investors weigh persistent political and fiscal uncertainty in the United States," he told Bernama.
Despite resilient domestic fundamentals—evidenced by strong export figures released yesterday—the local market performance remains largely dictated by exogenous variables. Until greater clarity emerges on the US fiscal path and monetary policy trajectory, market volatility is likely to persist, warranting a cautious but opportunistic approach, he added.
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