KLCI tracks regional decline

TheEdge Tue, Jan 08, 2019 01:05pm - 5 years View Original


KUALA LUMPUR (Jan 8): The FBM KLCI fell at the midday break today, tracking the decline at most regional markets.

At 12.30pm, the FBM KLCI shed 1.63 points to 1,677.54. The index had earlier risen to a high of 1,686.37.

Losers led gainers by 381 to 278, while 328 counters traded unchanged. Volume was 1.36 billion shares valued at RM824.34 million.

The top losers included Nestle (M) Bhd, Hartalega Holdings Bhd, Kossan Rubber Industries Bhd, Top Glove Corp Bhd, Ajinomoto (M) Bhd, MISC Bhd, Time Dotcom Bhd, Petronas Gas Bhd, AMMB Holdings Bhd, Kim Loong Resources Bhd, Padini Holdings Bhd and Tenaga Nasional Bhd.

The actives included Gagasan Nadi Cergas Bhd, Bumi Armada Bhd, Sapura Energy Bhd, AirAsia X Bhd, Datasonic Group Bhd, Hubline Bhd, Permaju Industries Bhd and Tatt Giap Group Bhd.

The gainers included United Plantations Bhd, Malaysian Pacific Industries Bhd, Fraser & Neave Holdings Bhd, Bursa Malaysia Bhd, Petronas Dagangan Bhd, Batu Kawan Bhd, Allianz Malaysia Bhd and KESM Industries Bhd.

Most Southeast Asian markets declined on Tuesday as investors remain sceptical about a resolution to the long-drawn Sino-US trade war despite positive comments on the ongoing negotiations, according to Reuters.

US and Chinese officials resumed talks in Beijing, with US Commerce Secretary Wilbur Ross predicting on Monday that the world's largest economies would reach a trade deal that they could "live with", the newswire said.

Affin Hwang Capital Research said the FBM KLCI Index was expected to firm up this week, quick and minor retracements will emerge followed by steady rebounds.

"The index's immediate resistance of 1,700 expected to be re-tested again this week with a target to move to 1,730-1,750 level in the near future.

"For the short term, equity market has technically turned bullish — Buy quality stocks on weakness.

"Anticipate FBM KLCI Index to test the short-term resistance in the near future," the research house said.

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






Related Stocks

AAX 1.340
AFFIN 2.460
AJI 18.600
ALLIANZ 19.940
AMBANK 4.170
ARMADA 0.570
BKAWAN 19.940
BURSA 7.460
CAPITALA 0.710
DSONIC 0.440
F&N 29.400
HARTA 2.750
HUBLINE 0.040
INGENIEU 0.160
KAWAN 1.800
KESM 6.220
KMLOONG 2.180
KOSSAN 1.960
MISC 7.650
MPI 30.300
NADIBHD 0.280
NESTLE 118.000
PADINI 3.400
PERMAJU 0.050
PETDAG 21.500
PETGAS 17.540
SAPNRG 0.050
TENAGA 11.240
TIMECOM 5.190
TOPGLOV 0.800
UTDPLT 24.500

Comments

Login to comment.