KLCI dips 0.19% as Public Bank and Tenaga weigh

TheEdge Tue, Feb 12, 2019 10:13am - 5 years View Original


KUALA LUMPUR (Feb 12): The FBM KLCI dipped 0.19% at mid-morning today, dragged by losses at key index-linked stocks including Public Bank Bhd and Tenaga Nasional Bhd.

At 10am, the FBM KLCI was down 3.28 points to 1,685.28

Gainers led losers by 284 to 217, while 268 counters traded unchanged. Volume was 661.21 million shares valued at RM300.91 million.

The decliners included IHH Healthcare Bhd, Ajinomoto (M) Bhd, Eastern & Oriental Bhd, Petronas Gas Bhd, Petronas Chemicals Group Bhd, Far East Holdings Bhd, Public Bhd and Tenaga Nasional. 

The actives included Seacera Group Bhd, Barakah Offshore Petroleum Bhd, Orion IXL Bhd, Bumi Armada Bhd, Ikhmas Jaya Group Bhd and Sapura Energy Bhd.

The gainers included United Plantations Bhd, Fraser & Neave Holdings Bhd, British American Tobacco (M) Bhd, Panasonic Manufacturing Malaysia Bhd, Kuala Lumpur Kepong Bhd, Syarikat Takaful Malaysia Keluarga Bhd, Aeon Credit Services (M) Bhd, PPB Group Bhd and Malaysian Pacific Industries Bhd.

Asian shares barely budged on Tuesday with investors looking to a new round of Sino-U.S. trade talks as the world's two largest economies try to resolve a tariff dispute that has put a dent on global growth and corporate earnings, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was unchanged in early trade. Japan's Nikkei was up 1.1 percent after a market holiday on Monday, it said.

CIMB IB Research said the FBM KLCI Index continued to see-saw between dips and gains on Feb 11 as investors are watching out for a fresh round of US-China trade talks this week.

“The key index formed a doji candlestick yesterday, which indicated market indecision.

“Further sideways consolidation is likely today. Resistance: 1,706 & 1,725. Support: 1,680 & 1,666,” it said.

 

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