KLCI closed lower after six straight days of gains

The winning streak on the Malaysia stock exchange stopped Wednesday as investors generally believed that the market needed to take a breather after the strong rally since last Tuesday.

The benchmark FBM KLCI lost 5.68 points or 0.45% to 1,260.06 points, being the day’s lowest level. The index opened 2.10 points higher 1,267.84 points and moved to as high as 1,270.44 points during the day.

Trading band was 9.38 points.Market breadth was negative with losers outnumbering gainers 519 to 214. Volume shrank to 926 million shares valued at RM1,279 million from 1,236 million worth RM1,545 million Tuesday.

Of the 30 components of KLCI, three closed in the positive territory, 23 ended lower while the remaining four settled unchanged. Volume for the component stock was 94 million shares worth RM605 million.