Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 2): The FBM KLCI remained lacklustre at mid-morning today as sellers overtook buyers.

At 10am, the FBM KLCI was up 0.83 points to 1,756.41.

Losers led gainers by 232 to 217, while 284 counters traded unchanged. Volume was 583.34 million shares valued at RM215.29 million.

The gainers included KESM Industries Bhd, Dutch Lady Milk Industries Bdh, Heineken Malaysia Bhd, Public Bank Bhd, Thong Guan Industries Bhd, Hengyuan Refining Company Bhd, Aeon Credit Service (M) Bhd and Hong Leong Financial Group Bhd.

The actives included Mlabs Systems Bdh, D.B.E Gurney Resources Bhd, Sterling Progress Bdh, Tiger Synergy Bhd, Malaysian Resources Corp Bhd, Sumatec Resources Bhd, Vivocom Intl Holdings Bhd and RGB International Bhd.

The losers included Lafarge Malaysia Bhd, British American Tobacco (M) Bhd, Telekom Malaysia Bhd, Hai-O Enterprise Bhd, Astino Bhd, SP Setia Bhd, Magni-Tech Industries Bhd, Selangor Properties Bhd and Genting Plantations Bhd.

The euro took a brief knock in Asia on Monday as investors kept an anxious eye on an independence vote in Spain's Catalonia, although surprisingly strong economic news out of China and Japan offered support to equities and commodities, according to Reuters.

The euro fell around a third of a U.S. cent after the violence-marred vote to as low as $1.1776 in early Asian trade but soon steadied at $1.1800. Liquidity was very thin with Chinese and Sydney markets on holiday, it said.

Hong Leong IB Research in a traders’ brief today said the US stock markets could sustain its momentum for the time being in the anticipation of further details on the corporate tax reform to be revealed by Trump this Wednesday. 

“Also, investors could be focusing on comments by Janet Yellen and Mario Draghi, US jobs data and U.K. PMI throughout the week.

“Meanwhile, the FBM KLCI could be due for a rebound amid oversold signals on RSI and Stochastics oscillators.

“Investors may want to position themselves within potential trading opportunities ahead of the 2018 Budget,” it said.

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