KLCI kicks off on lacklustre note

TheEdge Wed, Oct 11, 2017 09:12am - 6 years View Original


KUALA LUMPUR (Oct 11): The FBM KLCI started on a lacklustre note this morning despite the uptrend at most regional markets, weighed by index-linked blue chips.

At 9.05am, the FBM KLCI shed 0.15 points to 1,760.98.

The early decliners included Scientex Bhd, Axiata Group Bhd, Lingkaran Trans Kota Holdings Bhd, UMS-Neiken Group Bhd, Lafarge Malaysia Bhd, DiGi.Com Bhd, Sime Darby Bhd,. Hartalega Holdings Bhd, AWC Bhd and UPA Corporation Bhd.

Asian shares rose on Wednesday, tracking Wall Street's rally to all-time highs, while the euro hovered near a 10-day peak after Catalonia's leader talked down immediate plans to secede from Spain, easing near-term concerns about euro zone instability, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan nudged 0.24 percent higher to test a recent decade peak of 545.56, it said.

JF Apex Securities in a market preview today said US markets advanced overnight with the Dow hitting a record high after corporate announcements by Wal-Mart, Pfizer and Honeywell.

It said that earlier, European stocks ended mixed amid ongoing political uncertainty in Spain and higher oil prices.

“On the local market, the FBM KLCI lost 2.90 points to 1761.13 points.

“Following the mixed performance in the US and Europe, the FBM KLCI could extend its lacklustre performance and hover above the support of 1750 points,” it said.

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