KLCI dips 0.14% as downward trend remains intact

TheEdge Tue, Oct 15, 2019 01:08pm - 4 years View Original


KUALA LUMPUR (Oct 15): The FBM KLCI dipped 0.14% at the midday break today as the overall downward trend remained intact, against the backdrop of cautious regional markets.

At 12.30pm, the FBM KLCI was down 2.25 points to 1,565.34. The index had earlier in the risen to a high of 1,568.24.

Losers led gainers by 290 to 228, while 521 counters traded unchanged. Volume was 1.38 billion shares valued at RM765.79 million.

The losers included Nestle (M) Bhd, SAM Engineering & Equipment (M) Bhd, IHH Healthcare Bhd, Perusahaan Sadur Timah Malaysia (Perstima) Bhd, Oriental Interest Bhd, Digi.Com Bhd, Shangri-La Hotels (M) Bhd, KESM Industries Bhd and Cocoaland Holdings Bhd.

The actives included KNM Group Bhd, NetX Holdings Bhd, Bumi Armada Bhd, MNC Wireless Bhd, PUC Bhd, Green Packet Bhd and Sapura Energy Bhd.

The gainers included British American Tobacco (M) Bhd, Dutch Lady Milk Industries Bhd, Heineken Malaysia Bhd, Allianz Malaysia Bhd, Carlsberg Brewery Malaysia Bhd, AME Elite Consortium Bhd, Aeon Credit Service (M) Bhd, LPI Capital Bhd and ViTrox Corp Bhd.

Asian stocks and Wall Street futures inched higher on Tuesday as some investors held out hope that Britain still had a chance to avoid a messy exit from the European Union at key negotiations this week, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1%. South Korean shares rose 0.21%, while Japan's Nikkei stock index was up 1.74%, it said.

Affin Hwang Capital Research said the FBM KLCI Index started off the week on a strong note, gaining 10.75 points or 0.69% in yesterday's session, closing at 1,567.59.

"The index gapped up in yesterday's session due to positive view by investors on the new budget. This is also backed by daily indicators which are starting to show a positive reversal to the upside.

"Nonetheless, note that the overall major trend is still downwards.

"Downward bias remains intact," it said.

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