Friday 29 Mar 2024
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KUALA LUMPUR (Sept 18): The FBM KLCI dipped 0.49% at the midday break today, while stocks in the energy sector on Bursa Malaysia were mostly in the red as crude oil prices cooled off after having surged following the weekend attack on Aramco's facility in Saudi Arabia.

Brent crude oil futures fell 15 US cents, or 0.2%, to US$64.40 a barrel by 0253 GMT, after tumbling 6.5% the previous session, according to Reuters.

US West Texas Intermediate (WTI) crude futures declined 35 US cents, or 0.6%, to US$58.99 a barrel, after sinking by 5.7% on Tuesday, it said.

Meanwhile, MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.13% while Japan's Nikkei was flat, said the newswire.

At 12.30pm, the FBM KLCI lost 7.84 points to 1,596.46. The index had earlier fallen to a low of 1,594.09.

Losers led gainers by 340 to 193, while 502 counters traded unchanged. Volume was 1.09 billion shares valued at RM621.29 million.

The top losers included Dutch Lady Milk Industries Bhd, Kuala Lumpur Kepong Bhd, Heineken Malaysia Bhd, PPB Group Bhd, Genting Plantations Bhd, Hong Leong Financial Group Bhd, Magni-Tech Industries Bhd and Fraser & Neave Holdings Bhd.

The actives included KNM Group Bhd, Bumi Armada Bhd, Green Packet Bhd, Vsolar Group Bhd, Opcom Holdings Bhd and Sumatec Resources Bhd.

The gainers included Panasonic Manufacturing Malaysia Bhd, Malaysian Pacific Industries Bhd, Malaysia Airports Holdings Bhd, Carlsberg Brewery Malaysia Bhd, UEM Edgenta Bhd, KLCC Property Holdings Bhd, Pentamaster Corp Bhd and Opcom.

Affin Hwang Capital Research said the FBM KLCI Index closed slightly higher in yesterday's session, up 3.05 points or 0.19%, closing at 1,604.3.

"Since key technical indicators on the daily chart are still suggesting further upside, we may see price retest the upper-end of the consolidation range (1,580-1,615).

"A break above the range would switch the short-term bias to the upside.

"Anticipate the index to trade sideways within a tight range," it said.

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