KUALA LUMPUR, Sept 18 — Bursa Malaysia’s benchmark index ended lower on profit-taking, slipping back below the 1,600 psychological level amid weakness in selected banking, utilities and Petronas-linked heavyweights.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 12.77 points to 1,598.93 from yesterday’s close of 1,611.70.

The index opened 4.84 points weaker at 1,606.86, and traded between 1,597.41 and 1,606.86 throughout the day.

The broader market was negative with decliners leading gainers 515 to 494, while 509 counters were unchanged, 1,118 untraded and seven suspended.

Turnover narrowed to 2.56 billion units worth RM2.52 billion from 3.13 billion units worth RM3.16 billion yesterday.

Berjaya Research Sdn Bhd head of research Kenneth Leong said that while the pullback below the 1,600 level reflected near-term profit-taking, the downside might be cushioned by potential quick bargain-hunting activities amid the attractive valuations and stable macroeconomic environment.

“Still, foreign fund flows will remain a key swing factor, with investors closely monitoring shifts in global risk appetite.

“On the economic front, investors will also be keeping a close watch on Malaysia’s monthly export and import data, which is expected to be released tomorrow,” he told Bernama.

Leong said technically, the FBM KLCI has formed a bearish candle to close marginally below the 1,600 psychological level.

Among the heavyweights, Maybank fell six sen to RM9.88, Public Bank eased five sen to RM4.25, Tenaga dropped 16 sen to RM13.28, and IHH decreased five sen to RM7.31, while CIMB was flat at RM7.32.

As for the actives, Pharmaniaga was one sen higher at 28.5 sen, SNS increased five sen to 62.5 sen, and MCLean bagged three sen to 49.5 sen. VS Industry eased half a sen to 55 sen, and Bumi Armada slid one sen to 34 sen.

Top losers were Nestle, which fell RM2.90 to RM95.00, followed by ChinTeck, which shed 16 sen to RM9.90. Dutch Lady fell 16 sen to RM27.20, Petronas Chemicals declined 12 sen to RM4.33, and Ralco trimmed 8.5 sen to 91 sen.

Among the top gainers, Allianz climbed 38 sen to RM18.88, Hong Leong Industries rose by 34 sen to RM13.94, and Formosa gained 21 sen to RM1.66, while Ajinomoto bagged 20 sen to RM13.50 and Scientex increased by 16 sen to RM3.39. — Bernama