Friday 26 Apr 2024
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KUALA LUMPUR (Dec 10): The FBM KLCI fell 0.41% at the midday break in line with the jittery regional markets, and looked poised to extend its loss for a third day running.

At 12.30pm, the FBM KLCI fell 6.77 points to 1,652.59.

Market breadth was weak with 459 losers and 238 gainers, while 288 counters traded unchanged. Volume was 1.15 billion shares valued at RM766.25 million.

The top losers included DanaInfra Nasional Bhd, British American Tobacco (M) Bhd, Hong Leong Financial Group Bhd, Bursa Malaysia Bhd, Fraser & Neave Holdings Bhd, NPC Holdings Bhd, Public Bank Bhd and Petronas Gas Bhd.

Among the actives, newly-listed Red Sena Bhd fell 22% or 11 sen to 39 sen with 107.4 million shares done.

The other actives included Asia Media Bhd, Sanichi Technology Bhd, Instacom Group Bhd, 1 Utopia Bhd, XOX Bhd and Frontken Corporation Bhd.

The gainers included Top Glove Corporation Bhd, Pestech International Bhd, Malaysia Airports Holdings Bhd, Oriental Interest Bhd, Guinness Anchor Bhd, Kossan Rubber Industries Bhd and Vitrox Corporation Bhd.

Asian stocks slipped on Thursday as weak oil prices continued to feed global growth worries, while the euro held solid gains after a policymaker poured cold water on market expectations of more easing by the European Central Bank, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.3%, it said.

BIMB Securities Research said that in Asia, stocks ended lower due to overnight losses in US and falling crude oil price.

Locally, it said the FBM KLCI ended lower, losing 9.88 points or 0.59% to 1,659.36, in line with performance of global bourses.

"Trading participation saw net selling by foreign institutions while local institutions and retail were net sellers.

"We expect the local market to remain weak for today due to negative investor sentiment following overnight losses in US and Europe with the index hovering around 1,655–1,660," it said.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

 

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