KLCI dips 0.52% as Petronas-linked stocks, Tenaga weigh

noon_market_down_theedgemarkets

-A +A

KUALA LUMPUR (May 19): The FBM KLCI fell 0.52% at the midday break today, weighed by blue chips including Petronas-linked stocks and Tenaga Nasional Bhd.

At 12.30pm, the FBM KLCI fell 9.43 points to 1,814.07.

Market breadth was mixed with 322 gainers and 312 losers while 332 counters traded unchanged. Volume was 1.14 billion shares valued at RM853.657 million.

The top losers included Petronas Gas Bhd, Tenaga Nasional Bhd, PPB Group Bhd, Dutch Lady Milk Industries Bhd, TAHPS Group Bhd, RHB Capital Bhd, MISC Bhd, Petronas Dagangan Bhd and Press Metal Bhd.

The actively traded stocks included Nexgram Holdings Bhd, Frontken Corporation Bhd, Zelan Bhd, Malakoff Corporation Bhd, Scan Associates Bhd, Kanger International Bhd, Wintoni Group Bhd and Vsolar Group Bhd.

The top gainers included Hong Leong Financial Group Bhd, Nestle (M) Bhd, V.S. Industry Bhd, Mitrajaya Holdings Bhd, Oriental Food Industries Bhd, Cocoaland Holdings Bhd, DanaInfra Nasional Bhd and Sarawak Oil Palms Bhd.

Asian shares shrugged off early losses on Tuesday, as rallying Chinese shares and Wall Street's record close offset euro worries over Greece's fiscal woes, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2%. The CSI300 index surged 3.1% and the Shanghai Composite Index rose 2.6%, it said.

BIMB Securities Research said that in Asia, key indexes closed mostly higher yesterday as investors looked ahead to US housing data and minutes of the Federal Reserve’s April meeting due this week.

The research house said the Nikkei 225 added 0.3% on weaker yen. Meanwhile Hong Kong closed negative on profit taking.

Back home, it said the FBM KLCI Index traded sideways throughout the session; however, the last minute rally sent the index to end 11.58 points higher, closing at 1,823.50 lifted by O&G and power counters.

“Trading participation saw net selling by local retail while local and foreign institutions were net buyers.

“We expect the index to remain positive today as we still maintain our 2015 target at 1,850 for now, driven by strong buying interest from foreign investors. Expect to see immediate resistance at 1,830,” it said.