KLCI pares loss, claws back above 1,600 level

TheEdge Tue, Dec 31, 2019 12:51pm - 4 years View Original


KUALA LUMPUR (Dec 31): The FBM KLCI pared some of its losses and clawed back above the 1,600-point level at the midday break on the final trading day of 2019.

At 12.30pm, the FBM KLCI was down 0.92% or 14.79 points to 1,600.88. The index had earlier slipped to a low of 1,592.65.

Market breadth turned negative with 363 losers and 205 gainers, while 528 counters traded unchanged. Volume was 1.33 billion shares valued at RM785.48 million.

The top losers included Nestle (M) Bhd, Dutch Lady Milk Industries Bhd, Batu Kawan Bhd, PPB Group Bhd, Public Bank Bhd, Petronas Dagangan Bhd, Tenaga Nasional Bhd, Hong Leong Bank Bhd, Hong Leong Financial Group Bhd and Westports Holdings Bhd.

The actives included TDM Bhd, Rimbunan Sawit Bhd, Sapura Energy Bhd, London Biscuits Bhd, AirAsia Group Bhd, Bumi Armada Bhd and BTM Resources Bhd.

The gainers included United Plantations Bhd, Carlsberg Brewery Malaysia Bhd, Southern Acids (M) Bhd, MCE Holdings Bhd, Heineken Malaysia Bhd, Genting Plantations Bhd and UMS-Neiken Group Bhd.

Reuters said Asian shares slipped on the last trading day of the decade, echoing falls on Wall Street, as investors locked in gains made since the United States and China reached a preliminary trade deal earlier this month.

Early in the Asian trading session, MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.39%, its weakest performance since Dec 4. For the month, the index is still up 5.7%, it said.

Affin Hwang Capital Research said the FBM KLCI gained 5.06 points, or 0.31%, to close at 1,615.67 on Monday.

It said the index moved higher in yesterday's trading session, retesting the 1,615 immediate resistance once again.

"With the current rally remaining strong and the year coming to a close, we may see the index breach above the immediate resistance zone. This is also backed by key indicators on the daily timeframe which are showing bullish momentum still in progress.

"Major downtrend remains. 'Window dressing' play likely to unfold in the near term," it said.

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






Related Stocks

7126 0.000
AFFIN 2.480
ARMADA 0.575
BKAWAN 19.680
BTM 0.065
CAPITALA 0.710
CARLSBG 18.480
DLADY 28.060
GENP 6.140
GENTING 4.750
HEIM 23.300
HLBANK 19.280
HLFG 16.440
KAWAN 1.800
MCEHLDG 1.620
NESTLE 118.000
PBBANK 4.240
PETDAG 21.640
PPB 15.660
RSAWIT 0.235
SAB 3.210
SAPRES 0.330
TDM 0.275
TENAGA 11.340
UMSNGB 1.140
UTDPLT 24.300
WPRTS 3.850

Comments

Login to comment.