The stock market movement closed weaker as decliners outnumbered gainers in a broadly negative trading session, weighed down by sharp losses in selected plantation and technology-linked counters.
Market breadth was negative at the close, with 566 losers versus 498 gainers, while 574 counters were unchanged.
Leading the losers’ list, Paragon Union Bhd slumped RM1.39 to RM3.27 on heavy volume of nearly 2.9 million shares traded, followed by Batu Kawan Bhd, which fell 50 sen to RM20.30. Petronas Chemicals Group Bhd shed 46 sen to RM5.34, while Kuala Lumpur Kepong Bhd and Unisem (M) Bhd eased 18 sen each to RM20.76 and RM4.60 respectively.
On the upside, defensive and consumer-linked stocks provided support. Nestlé (M) Bhd led the gainers, rising RM1.10 to RM95.60, followed by Fraser & Neave Holdings Bhd, which gained 94 sen to RM26.74. Ajinomoto (M) Bhd added 58 sen to RM15.30, while Petronas Dagangan Bhd and Hong Leong Bank Bhd climbed 48 sen and 34 sen respectively.
Despite selective strength in blue chips, overall sentiment remained cautious, with selling pressure concentrated in plantations, petrochemicals and selected industrial counters.
