KLCI pares loss, sentiment weak on lack of fesh leads

-A +A

KUALA LUMPUR (Sept 9): The FBM KLCI pared some of its losses at the midday break on Tuesday but sentiment remained tepid given the lack of fresh leads at the local market.

At 12.30pm, the FBM KLCI shed 0.44 points to 1,870.65. The index had earlier dipped to its intra-morning low of 1,867.98.

The top losers included KLK, DKSH, MPI, Hong Leong Bank, MMC Corp, Asia Brands, Kotra, UMW, Scientex, Tasco and Asia File.

The actively traded counters included KTB, Asia Bio, IFCA MSC, Efficient, PDZ, Sumatec, Globaltec and Iris Corp.

The gainers included Dana Infra, Aeon Credit, United Plantations, REV Asia, Press Metals, Dutch Lady, BAT, Sganri-La and KSL.

Regionally, the U.S. dollar was holding broad-based gains in Asia on Tuesday in a boon for shares of Japanese exporters but a burden for oil, gold and stocks in the energy majors, according to Reuters.

As the dollar finally broke to a six-year peak on the yen and a one-year top on the euro, Brent oil sank to 16-month lows while gold carved out a three-month trough, it said.

JF Apex Research said that on the local exchange, the FBM KLCI gained 2.63 points to 1871.09 points on Monday.

It said Asian equities were set for a mixed open today after U.S. stocks ended mostly lower overnight.

“Investor focus is likely to fall on the Bank of Japan, which is due to release the minutes from its September policy meeting. Taiwan's trade data for the month of August are also due for release.

“We expect the FBM KLCI to remain range bound above the support of 1,860 points,” it said.