KUALA LUMPUR: The FBM KLCI snapped a two-day losing streak on Wednesday, outperforming most regional markets, although broader sentiment remained cautious amid escalating tensions in the Middle East and ahead of key US inflation data.

The 30-stock index gained 3.46 points, or 0.21%, to close at 1,678.96, after moving between 1,673.64 and 1,684.22 during the session.

Profit-taking outweighed bargain hunting, with 705 decliners versus 422 gainers, while 521 counters closed unchanged. Turnover stood at 3.97 billion shares worth RM2.72bil.

Dealers said buying interest today was interspersed with profit-taking as investors remained cautious ahead of the release of key US inflation data later tonight.

They added that market sentiment is likely to remain cautious until there is greater clarity on the US Federal Reserve's interest rate trajectory.

Among the gainers, Heineken rose 38 sen to RM19.42, Kuala Lumpur Kepong added 36 sen to RM20.48, Carlsberg gained 24 sen to RM16.64 and Allianz advanced 16 sen to RM20.96.

In contrast, Concrete Engineering Products