Thursday 28 Mar 2024
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KUALA LUMPUR (April 10): The FBM KLCI pared some of its loss at mid-morning but investors remained on the sideline in the absence of fresh domestic catalysts.

At 10am, the FBM KLCI was down 1.90 points to 1,847.49. It had earlier dipped to 1,844.24.

The top losers included Malayan Banking Bhd, Ibraco Bhd, Oriental Food Holdings Bhd, IOI Corporation Bhd, Genting Plantations Bhd, Lafarge Malaysia Bhd, Tenaga Nasional Bhd, Super Enterprise Holdings Bhd and Faber Group Bhd.

The actives included Frontken Corporation Bhd, Netx Holdings Bhd, Xinghe Holdings Bhd, KNM Group Bhd, Ho Wah Genting Bhd and Systech Bhd.

The top gainers included British American Tobacco (M) Bhd, Danainfra Nasional Bhd, Petronas Gas, PPB Group Bhd, Telekom Malaysia Bhd and MISC Bhd.

Asian shares advanced close to recent highs on Friday and the dollar stood tall after news that Greece had made a 450 million euro loan payment to the International Monetary Fund trimmed safety bids for U.S. government debt, according to Reuters.

The payment to the IMF secured extra emergency lending for Greek banks and helped improve global risk sentiment, though it remained unclear whether Athens could satisfy creditors who remain sceptical on the country's economic reforms, it said.

BIMB Securities Research said that Asian markets were mixed despite a rise in US markets on Wednesday.

It said investor sentiment remained cautious following the latest committee minutes from the Federal Reserve, which showed the central bank was split over when to raise interest rates.

“Locally, the FBM KLCI pared losses to settle almost flat on profit taking and as plantation shares fell. It fell 0.92 point or 0.05% to settle at 1,849.39.

“Today we may continue to see investors sidelined with some uptrend bias with immediate resistance at 1,860/65,” it said.

 

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