KUALA LUMPUR (Nov 22): The FBM KLCI pared some its losses at the midday break today, as regional markets ticked up.
At 12.30pm, the FBM KLCI shed 1.81 points to 1,693.56. The index had earlier slipped to its intra-morning low of 1,689.03.
Losers led gainers by 429 to 230, while 325 counters traded unchanged. Volume was 947.16 million shares valued at RM538.62 million.
The top losers included Nestle (M) Bhd, Pos Malaysia Bhd, British American Tobacco (M) Bhd, KESM Industries Bhd, Apex Healthcare Bhd, United Plantations Bhd, Genting Plantations Bhd, Enra Group Bhd and YSP Southeast Asia Holding Bhd.
The actives included Tatt Giap Group Bhd, Berjaya Land Bhd, Sapura Energy Bhd, Prestariang Bhd, AirAsia X Bhd, Permaju Industries Bhd, Lay Hong Bhd, Orion IX Bhd, Key Alliance Group Bhd and My EG Services Bhd.
The gainers included Fraser & Neave Holdings Bhd, PMB Technology Bhd, Petronas Dagangan Bhd, Heineken Malaysia Bhd, UOA Development Bhd, Time dotCom Bhd and Supermax Corp Bhd.
Asian shares stepped ahead cautiously on Thursday while oil rebounded from a steep sell-off, though rising US interest rates and escalating trade tensions kept financial markets on edge amid signs of slackening global growth, according to Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan tacked on 0.2% and has so far managed to hold up in November after three straight monthly declines. For the year, it is on track for its worst annual performance since 2011, in part due to anxiety over a weakening outlook for corporate profits and the heated Sino-US trade war, it said.
CIMB Retail Research said the FBM KLCI Index tumbled 15.3 points or 0.9% yesterday after Wall Street slumped overnight on Tuesday, together with falling oil prices amid fears of slowing global economic growth.
The research house said the key index seems to be consolidating in a triangle formation.
"The index will see a range-bound move until a clear breakout either up or down takes place.
"Resistance: 1,713 & 1,726. Support: 1,679 & 1,658," it said.