KUALA LUMPUR: The FBM KLCI extended its winning streak for a third consecutive day, bucking a sharp regional sell-off as buying interest in index heavyweights kept the benchmark firmly in positive territory.

The 30-stock index closed 5.87 points, or 0.37%, higher at 1,608.14, after moving between an intraday low of 1,601.76 and a high of 1,608.14.

Despite the benchmark index's gains, selling pressure dominated the broader market, with 681 losers outnumbering 420 gainers, while 501 counters were unchanged. Trading volume stood at 2.9 billion shares worth RM2.7bil.

Newly listed RedPlanet surged 36.84%, or seven sen, to 26 sen, with 84.65 million shares traded, making it one of the most actively traded counters on Bursa Malaysia.

Among the top gainers, Tenaga Nasional rose 26 sen to RM13.24, while Bintulu Port and Hengyuan Refining

Industries gained 25 sen each to RM5.35 and RM4.05, respectively.

Westports advanced 25 sen to RM7.02, while Kuala Lumpur Kepong added 22 sen to RM20.30.

Among the top losers, Nestle fell 38 sen to RM88.96, while Mi Technovation and United Malacca shed 25 sen each to RM6.38 and RM7.25, respectively.

Allianz Malaysia

declined 16 sen to RM19.14, while Kelington fell 15 sen to RM8.38.

On the forex market, the ringgit fell 0.03% to 4.0820 against the US dollar and eased 0.14% to 3.1974 against the Singapore dollar.

Meanwhile, stock market data showed foreign funds and retail investors were net buyers of local equities at RM43mil and RM10mil, respectively, while local institutions were net sellers at RM53mil.

Around the region, MSCI’s Asia ex-Japan stock index slipped 2.4%, with most regional bourses ending lower.

Japan’s Nikkei 225 plunged 2.65% to 62,907.84, while South Korea’s Kospi suffered an even steeper 3.52% slump to 5,533.77.

Hong Kong’s Hang Seng Index plunged 3.03% to 22,934.68, while Taiwan’s Taiex shed 1.81% to 46,041.43. Singapore’s Straits Times Index fell 0.57% to 5,406.89.

In China, the blue-chip CSI300 Index sank 1.84% to 4,036.30, while the Shanghai Composite Index slid 1.48% to 3,658.03.