KUALA LUMPUR: The FBM KLCI fell again on Wednesday, dragged down by losses in plantation and healthcare stocks amid the decline in most Asian markets.
At 5pm, the 30-stock index was down 22.23 points or 1.5% to 1,459.05, its lowest since November 2020.
In the broader market, laggards outnumber gainers 732-to-231; about 2.42 billion shares changed hands so far in deals worth RM1.82bil.
Along with investors' profit-taking, dealers said investors were also concerned about the US Federal Reserve's policy tightening.
Reuters reported that treasury yields hit decade highs and the dollar a 20-year peak as futures implied it was near certain the Fed would hike by 75 basis points to a range of 1.50-1.75% later on Wednesday.
In terms of fund flows, foreign funds and retailers were net buyers on Tuesday buying equities worth RM9mil and RM12mil respectively. Local institutions were net sellers at RM36mil.
The KLCI-component stocks were overwhelmingly negative, with 29 losers and one closed higher.
Sime Darby Plantation, which fell 19 sen to RM4.60, pushed the index lower by 1.9383 points. Press Metal fell 14 sen to RM4.84, nudging the index 1.6990 points lower and Petronas Chemicals eased 13 sen to RM9.53, leading the index 1.5317 points lower.
Hartalega fell 19 sen to RM2.98, IHH Healthcare lost 11 sen to RM6.19 and Top Glove declined two sen to RM1.01.
Among the banks, Maybank eased five sen to RM8.63, Public Bank lost three sen to RM4.48, CIMB declined three sen to RM4.96, RHB Bank fell seven sen to RM5.76 and Hong Leong Bank climbed four sen to RM20.64.
Meanwhile, the ringgit was quoted at 4.4190, up 0.03% against the US dollar.
US light crude oil fell US$1.61 to US$117.32 a barrel and Brent lost US$1.35 to US$119.82 per barrel.
Asian bourses closed broadly lower today, with Japan's Nikkei 225 losing 1.14%, South Korea’s Kospi fell 1.83%, Hong Kong’s Hang Seng added 1.14%, China’s Shanghai Composite added 0.5% and Singapore’s Straits Times Index fell 0.1%.