Thursday 25 Apr 2024
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KUALA LUMPUR (Nov 14): The FBM KLCI fell 0.29% at mid-morning today, tracking regional markets as investor sentiment remained nervy.

At 10am, the FBM KLCI fell 4.91 points to 1,682.66.

Losers led gainers by 297 to 184, while 209 counters traded unchanged. Volume was 546.18 million shares valued at RM283.04 million.

The top losers included British American Tobacco (M) Bhd, Carlsberg Brewery Malaysia Bhd, Petronas Gas Bhd, Public Bank Bhd, Rohas Tecnic Bhd, Hartalega Holdings Bhd, Petronas Chemicals Group Bhd, UMW Holdings Bhd and Top Glove Corp Bhd.

The actives included Securemetric Bhd, Seacera Group Bhd, AirAsia X Bhd, Borneo Oil Bhd, PUC Bhd, My EG Services Bhd, Hibiscus Petroleum Bhd and Lay Hong Bhd.

The gainers included Nestle (M) Bhd, Petronas Dagangan Bhd, Hong Leong Industries Bhd, AirAsia Bhd, Lotte Chemical Titan Holding Bhd, United Plantations Bhd, Genting Plantations Bhd and QL Resources Bhd.

Asian shares edged lower as investors fretted about slowing global growth with crude oil prices sinking on worries about weakening world demand and oversupply, according to Reuters.

US crude futures dived 7% the previous day, suffering their biggest one-day loss in more than three years. The contracts last stood at US$55.72 per barrel following a descent to US$54.75 overnight, their lowest since November 2017, it said.

Hong Leong IB Research in a traders' brief said that on Wall Street, it expects the volatility to remain over the near term as investors will be monitoring the outcome in the upcoming G20 summit as US President Donald Trump and China President Xi Jinping will be meeting up to discuss about trade.

"Besides, weaker crude oil prices may drag energy shares and sentiment on Wall Street.

"We believe the falling Brent crude oil prices would affect trading sentiment on the local front, especially the oil and gas sector.

"Meanwhile, traders will be more focused on export-driven companies on the back of the weakening bias of ringgit against the US dollar. On the KLCI, the downside risk will be pegged around 1,658-1,673," it said.

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