KLCI pares gains, but still up 0.61%
KUALA LUMPUR (March 17): The FBM KLCI pared some of its gains at the midday break today, but was still up some 0.61% in line with the regional markets.
At 12.30pm, the benchmark index was up 10.63 points to 1,747.77. The index had earlier risen to its intra-morning high of 1,752.10.
Gainers led losers by 496 to 331, while 377 counters traded unchanged. Volume was 2.31 billion shares, valued at RM1.76 billion.
The top gainers included Bursa Malaysia Bhd, Nestle (M) Bhd, United Plantations Bhd, Aeon Credit Service (M) Bhd, Public Bank Bhd, British American Tobacco (M) Bhd, Lafarge Malaysia Bhd, Heineken Malaysia Bhd, Petronas Chemicals Group Bhd, Axiata Group Bhd and Malayan Banking Bhd.
The actives included Dataprep Holdings Bhd, Borneo Oil Bhd, Olympia Industries Bhd, Iris Corp Bhd, Priceworth International Bhd and Matang Bhd.
The top losers included Rohas Tecnic Bhd, Tahps Group Bhd, Far East Holdings Bhd, Atlan Bhd, IHH Healthcare Bhd, MKH Bhd, Press Metal Bhd, Berjaya Food Bhd, Tasek Corp Bhd and Petronas Gas Bhd.
Asian stocks advanced on Friday, set for their best week since July, while the dollar continued the slide that began after the Federal Reserve indicated it was unlikely to speed up monetary tightening, according to Reuters.
The dollar index, which tracks the greenback against a basket of six trade-weighted peers, retreated 0.1% to 100.26. It hit a five-week low on Thursday, and is down almost 1% for the week, it said.
AffinHwang Capital Research said small caps stocks continued to lead the market higher.
“Technology and Construction sectors are major drivers, despite falling oil price.
“Broad market gains momentum on improved external sentiment and risk appetite. Local stocks are expected to trade higher with upside bias,” it said.
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