KLCI trends lower as Genting, Tenaga and PetGas drag

TheEdge Thu, Oct 05, 2017 10:27am - 6 years View Original


KUALA LUMPUR (Oct 5): The FBM KLCI trended lower at mid-morning today, as losses at key Genting-linked stocks as well as utility giant Tenaga Nasional Bhd and Petronas Gas Bhd (PetGas) dragged the local index lower.

At 10am, the FBM KLCI dipped 2.31 points to 1,759.53.

Gainers led losers by 250 to 212, while 285 counters traded unchanged. Volume was 760.52 million shares valued at RM275.83 million.

The top losers included Genting Malaysia Bhd, Cahya Mata Sarawak Bhd, Padini Holdings Bhd, Hartalega Holdings Bhd, DiGi.Com Bhd, Genting Bhd, Hong Leong Bank Bhd, Tenaga and PetGas.

The actives included Palette Multimedia Bhd, Sino Hua-An International Bhd, PUC Bhd, Efficient E-Solutions Bhd, Dutaland Bhd, Malaysian Resources Corp Bhd and ManagePay Systems Bhd.

The gainers included Petron Malaysia Refining & Marketing Bhd, Genting Plantations Bhd, Pineapple Resources Bhd, Mercury Industries Bhd, Rev Asia Bhd and Pestech International Bhd.

Asian shares were a tad firmer on Thursday, taking their cues from strong US data although holiday-thinned trade and uncertainty about the impact of recent hurricanes on the US economy are likely to keep investors cautious, according to Reuters.

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

Hong Leong IB Research in a trader's brief today said with the releasing of upbeat economic data, coupled with the optimism regarding the Trump's corporate tax reform, the upward trend is likely to sustain over the near term.

"The Dow may trade higher towards 22,800 zone in near term. Meanwhile, investors may pay close attention to comments from a few of the Fed's officials this week to search for clues on the interest rates hike decision.

"On the local front, we think market may stay on a consolidation phase as foreign participation ended with another day of outflow yesterday.

"Also, with the absence of fresh catalyst, the FBM KLCI could be capped near the 1,770-1,775 levels.

"Nevertheless, traders may focus on selected technology-related lower liners as buying support was noticed among stocks like VisDynamics Holdings Bhd and Aemulus Holdings Bhd," it said.

 

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






Related Stocks

AEMULUS 0.390
CATCHA 0.310
CDB 4.210
CMSB 0.925
DUTALND 0.310
EFFICEN 0.220
GENM 2.730
GENP 6.150
GENTING 4.720
HARTA 2.750
HLBANK 19.360
MERCURY 1.000
MPAY 0.120
MRCB 0.660
PADINI 3.400
PESTECH 0.250
PETGAS 17.540
PETRONM 4.650
PINEAPP 0.770
PUC 0.050
TECHNAX 0.010
TENAGA 11.240
UCREST 0.110
VIS 0.395

Comments

Login to comment.