Thursday 28 Mar 2024
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KUALA LUMPUR (Nov 5): The FBM KLCI dipped 0.49% at mid-morning on Wednesday, dragged by select blue chips as most regional markets declined on poorer sentiment.

At 10am, the FBM KLCI fell 9.12 points to 1,838.24.

The top losers included Petronas Dagangan, KLK, Boxpak, PPB, Singature, Tenaga, S P Setia, Advance Packaging, Ammb, Genting and SapuraKencana.

Efficient was the most actively traded counter with 58.74 million shares done. The stock fell 1.25% or half a sen to 39.5 sen.

The other actives included Nexgram, JAG, Minetec, Wintoni, Sumatec, SapuraKencana,Luster and Tiger Synergy.

The gainers included Dana Infra, United Plantations, Tasek, Hartalega, MISC, Cycle & Carriage, BAT, My E.G., Global Oriental and Genting Plantations.

Regionally, Asian shares got off to a lacklustre start on Wednesday after a plunge in oil prices dragged down U.S. shares, while the dollar took a breather after this week's rally, according to Reuters.

Crude prices steadied after falling to multi-year lows on news top oil exporter Saudi Arabia cut its U.S. sales prices, it said.

JF Apex Securities Research said U.S. stocks mainly declined overnight, a day after benchmarks rose to records, as the price of oil slid to a three-year low and Americans cast ballots in midterm elections.

It said that similarly, European stock indexes accelerated losses to close lower after seesawing during the trading session.

“On the local exchange, the FBM KLCI fell 5.98 points to 1847.36 points.

“Asia stocks are headed for a mixed session on Wednesday, with Japan set to continue outperforming while oil and growth concerns weigh on the rest of the region.

“We expect the KLCI to ease further below the resistance of 1850 points,” it said.

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