Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (July 13): The FBM KLCI remained in the negative territory at mid-morning today ahead of the extended weekend to observe the Hari Raya Aidilfitri holidays with many investors on the sideline.

At 10am, the FBM KLCI fell 6.98 points to 1,708.60.

The top losers included UMW Holdings Bhd, Lafarge Malaysia Bhd, Petronas Gas Bhd, Batu Kawan Bhd, UEM Edgenta Bhd, Simn Darby Bhd, Petronas Dagangan Bhd, Tenaga Naional Bhd and KESM Industries Bhd.

The actively traded stocks included China Automobile Parst Holdings Bhd, Trive Property Group Bhd, AirAsia Bhd, PUC Founder Bhd, KNM Group Bhd and Perwaja Holdings Bhd.

The top gainers included British American Tobacco (M) Bhd, Hong Leong Financial Group Bhd, Oriental Holdings Bhd, SCGM Bhd. Pestech International Bhd, Panasonic Malaysia Manufacturing Bhd, LPI Capital Bhd, Hong Leong Bank Njd and Top Glove Corporation Bhd.

The euro slipped in Asia on Monday while top-rated bonds caught a safe-haven bid as the Greek debt crisis seemed set to rumble on for yet another week while a key reading on economic growth loomed for Chinese markets, according to Reuters.

The moves were mild, with investors wary of over reacting after having seen so many deadlines come and go with no resolution of the crisis in Greece, it said.

Hong Leong IB Research said that unless there was a more semblance of stability return to China markets, Bursa Malaysia near term outlook will remain volatile, capped by expectations of profit taking activities, ahead of the long Raya holidays (Bursa Malaysia will be closed on 2H 16 Jul and 17 July), lingering domestic uncertainties over political glitches and ongoing probes on 1MDB and MARA.

“Near term supports are 1685-1700 while stiff resistance levels are 1725-1746,” it said.

      Print
      Text Size
      Share