Thursday 28 Mar 2024
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KUALA LUMPUR (May 7): The FBM KLCI remained in negative territory at mid-morning today in line with the dip at most regional markets following the overnight rout at most global markets.

At 10am, the FBM KLCI was down 7.73 points to 1,813.24.

The top losers included British American Tobacco (M) Bhd, Petronas Gas Bhd, Hong Leong Financial Group Bhd, PPB Group Bhd, Pharmaniafga Holdings Bhd, Guiness Anchor Bhd, Carlsberg Brewery (M) Holdings Bhd, Genting Bhd, Lafarge Malaysia Bhd and UMW Holdings Bhd.

The actives included Frontken Corporation Bhd, Kanger International Bhd, Hubline Bhd, Vsolar Group Bhd, Nexgram Holdings Bhd, Perwaja Holdings Bhd, Nova MSC Bhd, R & A Telecommunication Group Bhd and AirAsia X Bhd.

The top gainers included United Plantations Bhd, Public Bank Bhd, Kuala Lumpur Kepong Bhd, Hong Leong Industries Bhd, Pos Malaysia Bhd, Press Metal Bhd, Time Dotcom Bhd and  S P Setia Bhd.

Asian stocks slipped early on Thursday, taking a lead from weaker Wall Street, while a continuing rise in euro zone debt yields amid a global bond rout kept the euro hovering at a two-month peak versus the dollar, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4 percent. Australian shares shed 1.2 percent and South Korea's Kospi also fell, it said.

Hong Leong IB Research said this week, investors may see the  FBM KLCI to establish a base near 1800-1810 as the index managed to bounce off from intraday low of 1814 to at 1821 yesterday (above 200-d SMA of 1817), supported by the formation of hammer candlestick, grossly oversold slow stochastic and bottom-up in hourly chart.

“However, medium term outlook remains murky given external uncertainties and lack of domestic fresh catalysts,” it said.

 

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