KUALA LUMPUR: The FBM KLCI ended flat on Monday, bucking gains across most regional markets as losses in selected blue chips weighed on the index ahead of Malaysia’s second-quarter GDP data on Friday.

The FBM KLCI closed marginally lower at 1,735.37, down 0.38 of a point, or 0.02%, after trading between an intraday high of 1,738.97 and a low of 1,730.35.

Market breadth was positive, with 707 gainers and 515 losers, while 447 counters traded unchanged. Turnover came in at 3.49 billion shares worth RM2.56bil.

A dealer said the local bourse continued to consolidate, with selling in selected heavyweights offsetting buying interest in the broader market.

He added that sentiment remained generally steady, but the market could continue to trade sideways as investors await fresh catalysts, including Friday’s GDP data.

Among the decliners, Nestle slid RM1.80 to RM99.60, Kuala Lumpur Kepong lost RM1.06, Carlsberg shed 48 sen to RM14.52 and Dutch Lady

eased 20 sen to RM31.80.

In contrast, Malaysian Pacific Industries

rose 72 sen to RM47.98, Allianz climbed 68 sen to RM22.20, SkyeChip added 23 sen to RM3.25 and Kobay gained 22 sen to RM2.68.

On the forex market, the ringgit was quoted at 4.0920 against the greenback, down 0.03%. The local unit also eased 0.2% against the Singapore dollar to 3.1993.

The ringgit weakened 0.34% against the euro to 4.7321 and fell 0.51% against the pound sterling to 5.5273.

Meanwhile, oil prices rose on Monday amid continued uncertainty over the reopening of the Strait of Hormuz. Brent crude futures gained 0.53% to US$83.99 a barrel, while U.S. West Texas Intermediate crude rose 23 cents, or 0.29%, to US$78.41 a barrel.

On the external front, MSCI’s Asia ex-Japan stock index rose 0.83%, with most regional markets ending higher.

Japan’s Nikkei 225 jumped 2.08% to a near four-week high of 66,970.22.

South Korea’s Kospi gained 0.65% to 6,299.66, while Hong Kong’s Hang Seng Index advanced 1.05% to 25,937.49.

China’s CSI 300 rose 0.16% to 4,702.02, while the Shanghai Composite Index added 0.67% to 3,966.59.