Friday 29 Mar 2024
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KUALA LUMPUR (June 21): The FBM KLCI dipped on some mild profit taking at mid-morning as regional markets paused their advance.

At 10am, the FBM KLCI was down 0.96 points to 1,633.27.

The top losers included PPB Group Bhd, Carlsberg Brewery Malaysia Bhd, Versatile Creative Bhd, Hong Leong Financial Group Bhd, Ajinomoto (Malaysia) Bhd, British American Tobacco (Malaysia) Bhd, Malayan Banking Bhd and Aeon Credit Service (M) Bhd.

The actives included Sanichi Technology Bhd, Hubline Bhd, Nexgram Holdings Bhd, SapuraKencana Petroleum Bhd, LKL International Bhd and Malaysia Building Society Bhd.

The gainers included Lafarge Malaysia Bhd, Heineken Malaysia Bhd, Panasonic Manufacturing Malaysia Bhd, Teck Guan Perdana Bhd, Inari Amertron Bhd and Berjaya Food Bhd.

Asian shares got off to a tentative start on Tuesday, as investors paused after a rally triggered by growing expectations that British voters will opt to remain in the European Union in this week's referendum, according to Reuters.

Two of the latest polls released over the weekend showed the "Remain" camp in the lead, reversing a recent rise in support for pulling out and prompting a rally in global equities and the pound on Monday, it said.

Hong Leong IB Research said the FBM KLCI may gain for a third straight session today amid overnight rallies in Dow and Brent oil prices.

However, it said any rebound will likely be capped near 1,650 ahead of Nuzul Al-Quran holiday tomorrow and the Brexit vote on June 23.

"A 'Brexit' outcome will witness the FBM KLCI to resume its downward consolidation towards 1,580–1,600 levels.

"On a contrary, a 'Bremain' scenario will see the FBM KLCI to stage further relief rally towards 1,675–1,700 grounds," it said.

 

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