KUALA LUMPUR (April 10): The FBM KLCI reversed its earlier loss and climbed 0.09% at mid-morning today.
At 10am, the FBM KLCI added 1.68 points to 1,851.39. The index had earlier slipped to a low of 1,846.78.
Gainers led losers by 346 to 182, while 240 counters traded unchanged. Volume was 466.19 million shares valued at RM275.89 million.
The gainers included Danainfra Nasional Bhd, KESM Industries Bhd, Press Metal Aluminium Holdings Bhd, Ann Joo Resources Bhd, Fraser & Neave Holdings Bhd, Oriental Holdings Bhd, Bursa Malaysia Bhd, Southern Steel Bhd and Top Glove Corp Bhd.
The actives included Sino Hua-An International Bhd, EA Holdings Bdh, Sapura Energy Bhd, Priceworth International Bhd, UMW Opil & Gas Corp Bhd and Malaysia Steel Works (KL) Bhd.
The losers included Nestle (M) Bhd, Dutch Lady Milk Industries Bhd, British American Tobacco (M) Bhd, Genting Plantations Bhd, Hengyuan Refining Company Bhd, Petron Malaysia Refining & Marketing Bhd, Aeon Credit Services (M) Bhd and Hap Seng Consolidated Bhd.
Asian shares edged lower on Tuesday as Wall Street retreated from its highs after the FBI raided the offices of U.S. President Donald Trump's long time lawyer, dampening risk appetite already under strain from an escalating U.S.-China trade spat, according to Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2 percent. South Korea's KOSPI fell 0.8 percent, while Japan's Nikkei shed 0.4 percent, it said.
Hong Leong IB Research in a traders’ brief said that in the US, the mild selling pressure that emerged recently could be short lived as traders may look beyond the current trade tariffs issues until there are more details being revealed.
“Investors would be focusing on the upcoming reporting season that will be starting this month.
“At the KLCI , with the easing news flows on US-China trade war, we may expect trading activities to sustain over the near term after buying support was noted yesterday amongst the small cap and lower liners, which contributed to the positive market breadth.
“We think the tech related stocks may be focus following the recent steep sell down,” it said.