KLCI remains in the red as catalysts stay evasive

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KUALA LUMPUR (Sept 5): The FBM KLCI remained in negative territory at the midday break on Friday, weighed by lack of fresh catalysts ahead of key US employment data.

At 12.30pm, the index shed 0.55 points to 1,868.66, weighed by select blue chips.

The top losers included KLK, Lysaght, PPB, Taliworks, Dana Infra, Shangri-La, MKH, Stonemaster, Favelle Favco and Goh Ban Huat.

Compugates was the most actively traded counter with 51.26 million shares done. The stock was up 18.18% or one sen to 6.5 sen.

The other actives included Sumatec, Tek Seng, PDZ, Efficient, Asia Bio, Takaso and Sanichi.

The gainers included Hong Leong Bank, United Plantations, My E.G., UMW, MPI, Press Metal, HLFG, Public Bank and AMMB.

In Asia, Tokyo's Topix stalled just short of its January peak. Chart resistance is tough as a break there would take it to levels last seen in July 2008.

Chinese stocks extended their bull run with the CSI300 of the leading Shanghai and Shenzhen A-share listings barrelling to their best in over eight months.

JF Apex Research said that on the local market, the FBM KLCI gained 4.34 points to 1869.21 points on Thursday.

“Asian stocks are headed for a mixed open today with sentiment supported by the European Central Bank's surprise rate cut but caution ahead of a key U.S. jobs report may limit gains.

“We expect the KLCI to remain sideways above its support of 1,860 points,” it said.