KLCI pares gains as regional sentiment turns tepid

TheEdge Wed, Jun 20, 2018 01:07pm - 5 years View Original


KUALA LUMPUR (June 20): The FBM KLCI pared its gains substantially at the midday break today, tracking its regional peers as China's stock markets fell.

At 12.30pm, the FBM KLCI was up 2.65 points to 1,718.01. The index had earlier risen to a high of 1,728.69.

Gainers edged losers by 250 to 244, while 519 counters traded unchanged, Volume was 966.88 million shares valued at RM903.19 million.

The top gainers included British American Tobacco (M) Bhd, Fraser & Neave Holdings Bhd, Petronas Dagangan Bhd, United Plantations Bhd, Hong Leong Industries Bhd, Hong Leong Financial Group Bhd, Apex Healthcare Bhd, Malaysia Airports Holdings Bhd, Mi Equipment Holdings Bhd and MISC Bhd.

The actives included Mi Equipment, Sapura Energy Bhd, My E.G. Services Bhd, GSB Group Bhd, Iris Corp Bhd, YTL Corp Bhd and SKH Consortium Bhd.

The decliners included Nestle (M) Bhd, Public Bank Bhd, Ajinomoto (M) Bhd, Hong Leong Bank Bhd, Kuala Lumpur Kepong Bhd, ViTrox Corp Bhd, Pintaras Jaya Bhd and IJM Plantations Bhd.

China's stock markets slumped on Wednesday, extending a rout from the previous day as the prospect of a full-blown Sino-US trade war put a dampener on the rest of Asian equities, even as they managed a modest bounce, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4%, though that came after a 2.1% fall on Tuesday. Japan's Nikkei was up 0.1% after earlier falling into negative territory. South Korea's KOSPI rose 1%, it said.

Affin Hwang Capital Research said the FBM KLCI Index continue to decline, losing 28.07 points yesterday.

"It is anticipated that the local index will resume its drop today as negative sentiments continue to cloud the markets," it said.

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