Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 5): The FBM KLCI back pedalled at mid-morning today in line with the retreat at most regional markets.

At 10.01am, the FBM KLCI shed 1.30 points to 1,659.95.

The top losers included UMS Holdings Bhd, Batu Kawan Bhd, Ajinomoto Malaysia Bhd, Far East Holdings Bhd, Southern Steel Bhd. Carlsberg Brewery Malaysia Bhd, Whie Horse Bhd, Petronas Chemicals Group Bhd, RHB Bank Bhd and IOI Corp Bhd.

The actives included Perisai Petroleum Teknologi Bhd, Nexgram Holdings Bhd, RGB International Bhd, UEM Sunrise Bhd, Sumatec Resources Bhd and Minetech Resources Bhd.

The gainers included Boustead Heavy Industries Corp Bhd, Hong Leong Financial Group Bhd, Petron Malaysia Refining & Marketing Bhd, Can-One Bhd, C.I. Holdings Bhd, Fraser & Neave Holdings Bhd, Sime Darby Bhd and Aeon Credit Services (M) Bhd.

Asian shares and gold retreated on Wednesday and bond yields were near two-week highs after markets were rattled by a report flagging the possible withdrawal of global stimulus measures, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.5 percent in early trading. Japan's Nikkei gained 0.1 percent, aided by a weaker yen, it said.

Hong Leong IB Research said despite overnight fall on Dow, it still expects the FBM KLCI to stage a technical rebound this week, despite nagging uncertainty over the Fed rate hike and potential weakening in ringgit (vs US Dollar), supported by firmer oil prices, potential pre-Budget rally and the readiness of Bank Negara Malaysia to support economic growth via easing.

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