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KLCI remains subdued, down 0.21%

TheEdge Tue, Oct 10, 2017 01:11pm - 2 years ago


KUALA LUMPUR (Oct 10): The FBM KLCI remained subdued and was down 0.21% at the midday break today.

At 12.30pm, the FBM KLCI fell 3.66 points to 1,760.37.

Losers led gainers by 333 to 273, while 488 counters traded unchanged. Volume was 1.57 billion shares valued at RM709.67 million.

The top losers included Fraser & Neave Holdings Bhd, Rapid Synergy Bhd, Malaysian Pacific Industries Bhd, Time dotCom Bhd, Allianz Malaysia Bhd, Mesiniaga Bhd, FCW Holdings Bhd, Malaysia Airports Holdings Bhd, Ibraco Bhd and Telekom Malaysia Bhd.

The actives included M3 Technologies (Asia) Bhd, Hubline Bhd, Borneo Oil Bhd, Tiger Synergy Bhd, Vivocom Intl Holdings Bhd, XOX Bhd, Hibiscus Petroleum Bhd and KNM Group Bhd.

The gainers included Nestle (M) Bhd, Petron Malaysia Refining & Marketing Bhd, Mercury Industries Bhd, Serba Dinamik Holdings Bhd, LPI Capital Bhd, Hong Leong Bank Bhd, Westports Holdings Bhd, Lii Hen Industries Bhd, Yee Lee Corp Bhd, Batu Kawan Bhd and Genting Plantations Bhd.

Asian shares rose on Tuesday, shrugging off modest losses on Wall Street, while expectations of another US interest rate increase this year continued to underpin the US dollar, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5%, it said.

Hong Leong IB Research in a traders' brief today said following the weaker jobs data last week, the US equities may extend its profit-taking activities over the near term as investors may monitor the upcoming results season.

"Nevertheless, technical indicators are still suggesting that uptrend move is intact on the major indexes at this juncture.

"Meanwhile, on the local front, without any fresh catalyst, the recovery on the FBM KLCI is likely to be subdued and the upside of the key index may be capped along 1,770-1,775.

"However, stocks within the construction sector could remain active with the potential of more LRT3 jobs to be dished out in the near term," it said.

 






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