KUALA LUMPUR (Sept 28): The FBM KLCI has risen more than 100 points in the third quarter of 2018 (3Q18), despite edging lower as at midday break on the final trading day of 3Q18.

At 12.30pm, the FBM KLCI dipped 3.23 points to 1,795.41. The index had earlier dropped to its intra-morning low of 1,793.04.

Losers overtook gainers by 356 to 325, while 1,241 counters traded unchanged. Volume was 1.08 billion shares valued at RM814.50 million.

The decliners included British American Tobacco (M) Bhd, United Plantations Bhd, Hong Leong Financial Group Bhd, Lingkaran Trans Kota Holdings Bhd, Panasonic Manufacturing Malaysia Bhd, Petronas Gas Bhd, Axiata Group Bhd, Pharmaniaga Holdings Bhd and Kawan Food Bhd.

The actives included Sapura Energy Bhd, Orion IXL Bhd, Globaltec Formation Bhd, Velesto Energy Bhd, Hiap Teck Venture Bhd, Vivocom International Holdings Bhd, Hibiscus Petroleum Bhd and AirAsia Bhd.

The gainers included Scientex Bhd, Carlsberg Brewery Malaysia Bhd, QL Resources Bhd, Malayan Banking Bhd, Ajinomoto (M) Bhd, AirAsia, Hartalega Holdings Bhd and Inari Amertron Bhd.

Most Southeast Asian equities traded in positive territory on Friday, with markets across the board poised to end the quarter higher as global tensions plaguing emerging markets of late, receded, according to Reuters.  

"Over the past couple of months, we have seen some global tension across China, U.S. and Turkey which stimulated the flight to safety... Asian markets, especially Indonesia, were one of the must hurt markets in the world," Taye Shim, head of research at Mirae Asset Sekuritas said, as reported by Reuters.

Kenanga IB Research said Asian markets closed lower in response to the interest rate hike by US on Wednesday.

Similarly, the FBM KLCI declined marginally by 0.08 points to close at 1,798.64, with the broader market sentiment also having more decliners, it said.

“Chart-wise, the underlying uptrend remains intact. However, we note that the index is trending just below the 20-day SMA, possibly indicating some near-term retracement.

“Nonetheless, we expect the index to hold at support levels 1,790 (S1) and 1,765 (S2), close to its 100-day SMA, which has proven to be a fairly resilient support.

“Meanwhile, resistances can then be found at 1,825 (R1) and 1,865 (R2),” the research house said.