KUALA LUMPUR (Dec 14): The FBM KLCI declined today after five straight sessions of gains, as investors decided to take profit after the market sentiment was affected by local political developments. 

The index ended down 1.3% or 21.84 points at 1,662.74, moving between 1,662.45 and 1,695.96 in a choppy trading session. On the broader market, more than 900 stocks ended in red.  

Among KLCI component stocks which declined were glove makers Hartalega Holdings Bhd, Supermax Corp Bhd and Top Glove Corp Bhd, as well as Nestle (M) Bhd and Public Bank Bhd.

Bursa Malaysia’s healthcare index, which includes glove makers, was down 5.16% at 3,625.10, its lowest level since Sept 24.

Hartalega fell RM1.76 or 12.83% to RM11.96, Supermax dropped 80 sen or 10.58% to RM6.76 and Top Glove sank 60 sen or 8.7% to RM6.30. Kossan Rubber Industries Bhd, meanwhile, fell 69 sen or 12.8% to RM4.7.

Remisier Jeffry Azizi Jaafar told theedgemarkets.com that the KLCI retreated from early gains amid profit taking in the afternoon trading session, as investors were roiled by the political uncertainty.

Former prime minister Tun Dr Mahathir Mohamad and veteran lawmaker Tengku Razaleigh Hamzah held a joint a press conference today, fueling speculation that seasoned politicians are joining forces after a long rivalry.

On the broader market, there were 958 losers versus 460 gainers, while 375 counters were unchanged. Total volume surged to 11.88 billion units worth RM7.09 billion, from 10.03 billion units worth RM6.19 billion recorded on Friday (Dec 11).

Among active stocks, Sino Hua-An International Bhd topped the list with 1.01 billion shares or 8.5% of Bursa Malaysia’s total trading volume. The stock closed up three sen at 16 sen.

Other actives included AirAsia X Bhd, Iris Corp Bhd, P.A. Resources Bhd, AirAsia Group Bhd, At Systematization Bhd and Bumi Armada Bhd.

Notable gainers included Kumpulan Powernet Bhd (up 35 sen to RM5.88), Malaysia Airports Holdings Bhd (up 33 sen to RM6.16), Ajinomoto (M) Bhd (up 30 sen to RM15.60), Jaycorp Bhd (up 28 sen to RM1.72) and Tenaga Nasional Bhd (up 26 sen to RM10.60).

Elsewhere in Asia, markets were mixed today with Japan's Nikkei 225 up 0.3% and South Korea’s Kospi down 0.28%. In China, Hong Kong’s Hang Seng Index sank 0.44%, while the Shanghai Stock Exchange Composite Index was up 0.66%.