Thursday 28 Mar 2024
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KUALA LUMPUR (March 15): The FBM KLCI remained in the negative territory at mid-morning today and stayed below the crucial 1,700-point level.

At 10.01am, the FBM KLCI was down 2.36 points to 1,697.95.

The top losers included Petronas Gas Bhd, United Plantations Bhd, UEM Edgenta Bhd, Manulife Holdings Bhd, Guiness Anchor Bhd, Nestle (M) Bhd, Huat Lai Resources Bhd, Maxis Bhd, Hong Leong Bank Bhd and UMW Holdings Bhd.

The actives included SKH Consortioum Bhd, China Automobile Parts Holdings Bhd, AirAsia Bhd, AirAsia X Bhd, V.S. Industry Bhd and Comintel Corporation Bhd.

The gainers included Danainfra Nasional Bhd, Allianz Malaysia Bhd, Can-One Bhd, Public Bank Bhd, SAM Engineering & Equipment Bhd, Tasek Corporation Bhd and Top Glove Corporation Bhd.

Asian stock markets were tentative on Tuesday as they braced for a run of policy announcements from the world's major central banks this week, with all eyes on the Bank of Japan's meeting later in the day after it stunned markets in January by adopting negative rates, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1 percent in early trade, but still near 2-1/2-month highs touched on Monday. It was dragged down by a 0.4 percent fall in resource-heavy Australian shares following a drop in oil and commodity prices, it said.

Hong Leong IB Research said after finally closing a tad above 1700 yesterday, the index is expected to tread water near 1700-1710 levels in the next couple of days ahead of the policy reviews by the Bank of Japan and the U.S. Fed before heading for the next move. 

“Weekly resistance is 1710-1727 while supports fall on 1673-1690,” it said.

 

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