KUALA LUMPUR (May 12): The FBM KLCI remained below the crucial 1,800-point level at mid-morning today in line with the downtrend at most regional markets.
At 10am, the FBM KLCI was down 5.60 points to 1,799.89.
The top decliners included Nestle (M) Bhd, Petronas Dagangan Bhd, British American Tobacco (M) Bhd, PPB Group Bhd, Oriental Food Industries Bhd, MISC Bhd, UMW Holdings Bhd and Petronas Gas Bhd.
The actives included Kanger International Bhd, Frontken Corporation Bhd, Vsolar Group Bhd, Ho Wah Genting Bhd, Privasia Technology Bhd and Genetec Technology Bhd.
The top gainers included BLD Plantation Bhd, Apollo Holdings Bhd, MNRB Holdings Bhd, Asia File Corporation Bhd, Lafarge Malaysia Bhd, Malaysian Pacific Industries Bhd and Yinson Holdings Bhd.
Asian stocks edged lower and the euro sagged on Tuesday as insufficient progress on talks between debt-strapped Greece and its creditors kept investors on edge, according to Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1 percent. Japan's Nikkei lost 0.3 percent and South Korea's Kospi dipped 0.1 percent, it said.
Hong Leong IB Research said that since hitting year-to-date high of 1867.5 on April 27, the FBM KLCI had retraced 3.3% or 62 points to end at 1805 yesterday.
“Given a host of domestic and external challenges, there is still downside pressure for Bursa Malaysia in the short term but it is likely to be cushioned with key supports near 1793 (100-d SMA) and 1771 (50% FR), supported by grossly oversold slow stochastic and ahead of the tabling of 11th Malaysian Plan in Parliament on 21 May,” it said.