KLCI clings on to meagre gains as region wobbles

TheEdge Thu, Jun 08, 2017 01:07pm - 6 years View Original


KUALA LUMPUR (June 8): The FBM KLCI clung to its meagre gains at the midday break today, as the market remained in consolidation mode.

At 12.30pm, the index was up 1.08 points to 1,787.00. The index had earlier slipped to its intra-morning low of 1,783.13.

Losers overtook gainers by 382 to 338, while 399 counters traded unchanged. Volume was 1.03 billion shares, valued at RM820.03 million.

The top gainers included Hartalega Holdings Bhd, Malaysian Pacific Industries Bhd, Top Glove Corp Bhd, Aeon Credit Service (M) Bhd, Kossan Rubber Industries Bhd, Public Bank Bhd, Lafarge Malaysia Bhd, JF Technology Bhd, ViTrox Corp Bhd and Fraser & Neave Holdings Bhd.

The actives included AT Systemization Bhd, Frontken Corp Bhd, Dolphin International Bhd, Iris Corp Bhd, AirAsia X Bhd, XOX Bhd, Anzo Holdings Bhd and Vivocom International Holdings Bhd.

The losers included Bursa Malaysia Bhd, Hong Leong Bank Bhd, KESM Industries Bhd, Genting Plantations Bhd, Apex Healthcare Bhd, Kuala Lumpur Kepong Bhd and Asia File Corp Bhd.

Asian shares wobbled on Thursday, as investors braced for any surprises from the UK elections, the European Central Bank's policy meeting and congressional testimony from ex-FBI director James Comey who was fired by President Donald Trump last month, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1%, while Japan's Nikkei was flat, it said.

Kenanga IB Research said blue chips were seen closing on a softer note yesterday, as investors adopted a more cautious approach ahead of a barrage of events today (Britain general election, ECB policy meeting and former FBI Director’s testimony).

It said the FBM KLCI shed 5.09 points (0.284%) to close lower at 1,785.92, on the back of thinning trade volume.

The research house said chart-wise, a black candlestick was formed after three consecutive days of gains, to imply a halt in the uptrend extension.

“Technical indicators such as RSI and Stochastic are also toppish at their respective overbought thresholds, suggesting that upside could be limited from here.

“Taking cue from the subdued sentiment and lacklustre technical readings, we view that the FBM KLCI could possibly look to consolidate for the remainder of this week.

“Resistance levels are at 1,787 (R1)/1,800 (R2), while supports are found at 1,760 (S1)/1,754 (S2),” it said.

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

9342 0.000
AAX 1.340
AEONCR 6.120
AHEALTH 2.970
ASIAFLE 2.260
BURSA 7.460
DOLPHIN 0.190
F&N 29.400
FRONTKN 3.870
GENP 6.150
HARTA 2.750
HLBANK 19.360
IRIS 0.310
JFTECH 0.905
KESM 6.220
KLK 22.300
KOSSAN 1.960
MCEMENT 4.960
MPI 30.300
PBBANK 4.210
TOPGLOV 0.800
VINVEST 0.045
VITROX 7.640
XOX 0.010

Comments

Login to comment.