KLCI stays listless in line with flat region

TheEdge Fri, Jun 23, 2017 01:06pm - 6 years View Original


KUALA LUMPUR (June 23): The FBM KLCI remained lacklustre at the midday break today, in line with the flat regional markets, ahead of the extended weekend for the Hari Raya holidays.

At 12.30pm, the FBM KLCI added 0.26 points to 1,777.69. The index had earlier risen to 1,780.06.

Gainers edged losers by 292 to 251, while 468 counters traded unchanged. Volume was 645.96 million shares valued at RM642.32 million.

The top gainers included Ajinomoto (M) Bhd, Nestle (M) Bhd, PMB Technology Bhd, Hong Leong Bank Bhd, George Kent (M) Bhd, Genting Malaysia Bhd, Southern Acids (M) Bhd, Jaycorp Bhd, SCC Holdings Bhd, Hengyuan Refining Company Bhd, Malaysia Airports Holdings Bhd and Perusahaan Sadur Timah Malaysia (Perstima) Bhd.

The actives included Hubline Bhd, Anzo Holdings Bhd, Dagang NeXchange Bhd, Comintel Corp Bhd, NetX Holdings Bhd, Key Alliance Group Bhd and Hibiscus Petroleum Bhd.

The losers included Dutch Lady Milk Industries Bhd, British American Tobacco (M) Bhd, Heineken Malaysia Bhd, HCK Capital Group Bhd, S P Setia Bhd, Comintel, Hong Leong Financial Group Bhd, AMMB Holdings Bhd and MNRB Holdings Bhd.

Asian shares flatlined on Friday but remained on track for a weekly gain, while crude oil prices pulled away from this week's 10-month lows, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was nearly unchanged on the day, and was up 0.4% for the week, it said.

AffinHwang Capital Research said stocks in Bursa Malaysia are anticipated to continue to test their resistances till reversal signal appears.

"With Malaysia's General Election obviously in the pipeline, we anticipate that any pullbacks in the near future should be perceived as opportunity to buy quality stocks on dip because some elements of surprise may emerge to spark strong rally in the market, particularly in the 2H17," it said.

 

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