KLCI dips on mild profit taking

mid_morning_market_down_theedgemarkets

mid_morning_market_down_theedgemarkets

-A +A

KUALA LUMPUR (Oct 27): The FBM KLCI dipped at mid-morning on some mild profit as external factors weighed on investor sentiment.

At 10.02am , the FBM KLCI fell 2.12 points to 1,816.74, with losses at select blue chips including Sime Darby and Genting Plantations.

The top losers included Petronas Gas, Ibraco, UMW, Perak Corp, Genting Plantations, Axis REIT, Lafarge Malaysia, Sime Darby, My E.G., Coastal Contracts and Sentoria.

The actives included Sona Petroleum, KTB, IFCA MSC, Iris Corp, DGB, JAG, Tiger Synergy and China Stationery.

The gainers included BAT, United Plantations, Lysaght, Tasek, KLK, MAHB, Press Metal, MNRB, HLFG and MFCB.

Regionally, Asian equities rose on Monday, taking heart from upbeat earnings and economic data that eased recent global growth fears and sharpened risk appetite, while the dollar advanced to a three-week high against the yen, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.35 percent and Tokyo's Nikkei rose 0.5 percent, it said.

JF Apex Securities Research said that it expects the FBM KLCI to remain range bound above 1800 points with possible profit taking on the back of  published report that 25 European banks have failed a key health check of the region's financial system, exposing a 25 billion euro ($31.7 billion) shortfall on their books.