Thursday 28 Mar 2024
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KUALA LUMPUR (April 18): The FBM KLCI retreated at mid-morning today, on some mild profit taking.

At 10am, the FBM KLCI shed 0.4 point to 1,880.09.

Losers edged gainers by 249 to 227, while 276 counters traded unchanged. Volume was 623.54 million shares valued at RM247.93 million.

The decliners included KESM Industries Bhd, Dutch Lady Milk Industries Bhd, Genting Plantations Bhd, Petron Malaysia Refining & Marketing Bhd, British American Tobacco (M) Bhd, Hengyuan Refining Co Bhd, LPI Capital Bhd and Allianz Malaysia Bhd.

The actives included SKH Consortium Bhd, PUC Bhd, Sapura Energy Bhd, Hubline Bhd, Iris Corp Bhd, Nexgram Holdings Bhd and UMW Oil & Gas Corp Bhd.

The gainers included Nestle (M) Bhd, Carlsberg Brewery Malaysia Bhd, PPB Group Bhd, Lafarge Malaysia Bhd, DKSH Holdings (M) Bhd, Globetronics Technology Bhd, Serba Dinamik Holdings Bhd, Willowglen MSC Bhd, Muda Holdings Bhd and Kobay Technology Bhd.

Asian shares crept ahead on Wednesday after Wall Street took heart from upbeat corporate earnings, though nagging concerns about trade barriers and the global growth outlook kept currencies and bonds subdued, according to Reuters.

Dealers were anxious to see if a surprise policy move by China's central bank late on Tuesday might help soothe Shanghai markets after a couple of days of sharp losses, it said.

Hong Leong IB Research said on the outlook for the Dow Jones, the sentiment could turn into a positive bias over the near term with the reporting season as investors were anticipating that the financial results may register better earnings after the passing of corporate tax bill in December 2017 by US President Trump, coupled with the oversold situations on most of the stocks.

"On the local front, index heavyweights could scale towards new high with the help of foreign inflows ahead of the GE14, but small caps and lower liners likely to stay neutral as we think profit-taking activities may emerge after the recent relief rebound," it said.

 

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