Thursday 28 Mar 2024
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KUALA LUMPUR (May 23): The FBM KLCI lost 0.925 at mid-morning today, dragged by key index-linked blue chips.

At 10am, the FBM KLCI lost 16.86 points to 1,828.17.

Losers led gainers by 408 to 158, while 250 counters traded unchanged. Volume was 575.93 million shares valued at RM338.89 million. 

The top losers included Axiata Group Bhd, MISC Bhd, PPB Group Bhd, CIMB Group Holdings Bhd, British American Tobacco (M) Bhd, Aeon Credit Service (M) Bhd, Lafarge Malaysia Bhd, ViTrox Corp Bhd, Telekom Malaysia Bhd and Dialog Group Bhd.

The actives included NetX Holdings Bhd, AirAsia X Bhd, Sapura Energy Bhd, Hubline Bhd, My E.G. Services Bhd, Borneo Oil Bhd and Eden Inc Bhd.

The gainers included Nestle (M) Bdh, Time Dotcom Bhd, Yinson Holdings Bhd, Hengyuan Refining Company Bhd, Genting Malaysia Bdh, Muhibbah Engineering (M) Bhd and Hong Leong Industries Bhd.

Asian shares edged up on Wednesday but investors were cautious after U.S. President Donald Trump tempered optimism over progress made so far in trade talks between the world's two largest economies, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.15 percent while Japan's Nikkei lost 0.2 percent, it said.

Hong Leong IB Research in a traders’ brief said in the US, market weakness may persist with the lingering uncertainties on the trade war issues, coupled with Trump’s surprise comments.

“Also, investors will be focusing on the FOMC meeting that will be held next month (12-13 June). Hence, we believe the Dow could be consolidating within 24,500-25,500.

“Market sentiment on the local bourse may stay soft affected by newsflows on 1MDB in the media as well as renewed concerns of our fiscal position after national debt has breached RM1trillion.

“Nevertheless, traders may look out for trading opportunities within the consumer and technology sectors on the back of zerorisation of the GST and weaker ringgit outlook, respectively,” it said.

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