KUALA LUMPUR: The FBM KLCI bucked broader regional market weakness to close marginally higher on Tuesday, supported by gains in banking and selected heavyweight stocks.

The 30-stock index closed up 2.34 points, or 0.14%, at 1,621.85. The benchmark index traded within a 9.69-point range, between an intraday high of 1,625.88 and a low of 1,616.19.

Decliners outpaced gainers 652 to 403, while 502 counters were unchanged. About 2.63 billion shares, valued at RM2.64bil, changed hands.

Dealers said market sentiment remained cautious amid regional market weakness, with investors awaiting Bank Negara Malaysia's monetary policy decision on Nov 5.

They said the central bank was widely expected to keep the overnight policy rate (OPR) unchanged at 2.75%, with investors looking for further guidance on the domestic economic outlook.

Among the top gainers, F&N jumped 92 sen to RM21.20, United Plantations gained 58 sen to RM29.88, while Carlsberg added 36 sen to RM12.94.

Banking stocks were broadly higher, with AmBank and RHB Bank

gaining 21 sen each to RM6.48 and RM7.71, respectively.

Hong Leong Bank rose 16 sen to RM21.34, Maybank added six sen to RM10.04, while Public Bank edged up two sen to RM4.81.

On the losing end, PETRONAS Dagangan fell 50 sen to RM19.28, Kelington Group shed 33 sen to RM8.17, while Nestle Malaysia declined 24 sen to RM95.88.

Malaysian Pacific Industries

slipped 28 sen to RM39.50, UWC fell 21 sen to RM6.88 and Pentamaster Corp

lost 20 sen to RM5.27.

On the forex market, the ringgit declined 0.1% against the US dollar to 4.0755 but edged up 0.07% versus the Singapore dollar to 3.1834.

Stock market data showed that foreign investors and retailers were net buyers on Monday, purchasing RM103mil and RM27mil worth of equities, respectively, while local institutions were net sellers at RM130mil.

Meanwhile, Brent crude rose US$1.90, or 1.81%, to US$106.67 a barrel, while US West Texas Intermediate crude was at US$97.94 per barrel, down US$1.48, or 1.53%.

On the external front, MSCI’s Asia ex-Japan stock index slid 1.82%. Among regional markets, Hong Kong’s Hang Seng rose 0.57% to 23,525.97.

Meanwhile, South Korea’s Kospi and Taiwan’s Taiex both tumbled 3.59% to 5,648.79 and 43,307.54, respectively.

Japan’s Nikkei 225 fell 0.33% to 63,081.86, China’s CSI300 slipped 0.2% to 4,008.87, while the Shanghai Composite declined 0.82% to 3,608.10.