KUALA LUMPUR: The FBM KLCI was lower on Tuesday, with the index falling 18.80 points, or 1.11%, to 1,679.21 from Monday’s close of 1,698.01 as caution ahead of the US Federal Reserve’s monetary policy decision weighed on sentiment.
Market breadth remained negative, with 780 decliners recorded against 355 gainers, indicating that selling pressure was broadly distributed across the market.
Energy was the only major sector to record gains, rising 0.79%, while Industrial Products fell 1.48%, Healthcare declined 1.45% and Utilities eased 1.42%.
KLCI slips
The KLCI was also reported to have remained below its EMA9, EMA20 and EMA120 indicators, suggesting that downward momentum had resumed.
The index’s close below the 1,680 support level is expected to expose it to a retest of the 1,655-1,675 support zone.
The near-term outlook was seen as cautious to negative, with gains likely to remain capped by global interest-rate uncertainties.
