Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (July 2): The FBM KLCI lost ground and fell into the red today as the implementation of a two-week Enhanced Movement Control Order (EMCO) over most parts of Selangor and 15 localities in Kuala Lumpur soured market sentiment.

The FBM KLCI opened lower at 1,533.7 today. Selling pressure heightened at noon session sent the benchmark index to 1,529.68 — the lowest in almost eight months since Nov 9.

At closing, the benchmark index pared some losses and closed at 1,533.35, still down 0.06% or 0.88 points compared to yesterday’s closing of 1,534.23.

TA Securities Holdings Bhd senior technical analyst Stephen Soo told theedgemarkets.com the sentiment was weak due to yesterday's announcement of the EMCO that covered most areas in Klang Valley.

He noted that the KLCI's resistance levels are at 1,552 and 1,580, while its support levels are at 1,452 and 1,480.

Today, Bursa Malaysia saw 5.51 billion shares worth RM2.88 billion traded. There were 406 gainers and 529 losers, while 456 counters remained unchanged.

Among the blue chips, Sime Darby Plantation Bhd, Hartalega Holdings Bhd and Top Glove Corp Bhd were among the biggest losers.

Sime Darby Plantation closed down 1.97% or eight sen at RM3.98.

Meanwhile, Hartalega closed at its 15-month low of RM7.02, after it dropped 12 sen or 1.68%; Top Glove shares dived to settle at RM7.02 — lowest since May last year — after dropping six sen or 1.47%.

Top active counters included Serba Dinamik Holdings Bhd, Sarawak Consolidated Industries Bhd, Saudee Group Bhd, Focus Dynamics Bhd, Dagang NeXchange Bhd, KPower Bhd, M3 Technologies (Asia) Bhd and Pasukhas Group Bhd.

Notable gainers by value were Genetec Technology Bhd, Kumpulan H&L High-Tech Bhd, Kobay Technology Bhd, SKB Shutters Corp Bhd, Nestle (M) Bhd, Hong Leong Financial Group Bhd and Computer Forms (M) Bhd.

Top losers included Carlsberg Brewery (M) Bhd, Malaysian Pacific Industries Bhd, Heineken (M) Bhd, OM Holdings Ltd and Genting Plantations Bhd.

Elsewhere in Asia, Japan’s Nikkei 225 increased 0.27%, while Hong Kong’s Hang Seng Index was down 1.8%. China’s Shanghai Composite Index fell 1.95% and South Korea's KOSPI slid 0.01%.

Reuters reported that a slump in Chinese shares sent an index of emerging market stocks 1% lower on Friday, on track for its biggest daily drop in seven weeks, while currencies lost ahead of US jobs data which could give clues on when the Federal Reserve will tighten its policy.

Edited ByLam Jian Wyn
      Print
      Text Size
      Share