KLCI dips as trading sentiment stays sluggish

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KUALA LUMPUR (March 14): The FBM KLCI dipped at midday break today as trading sentiment stayed sluggish against the back drop of muted regional markets.

At 12.30pm, the FBM KLCI fell 3.36 points to 1,674.88.

Gainers edged losers by 306 to 282, while 543 counters traded unchanged. Volume was 3.09 billion shares, valued at RM1.53 billion.

Top losers included Nestle (M) Bhd, Fraser & Neave Holdings Bhd, SAM Engineering & Equipment Bhd, KESM Industries Bhd, Malaysian Pacific Industries Bhd, Genting Plantations Bhd, Rapid Synergy Bhd, QL Resources Bhd and Mentiga Corp Bhd.

The actives included Sino Hua-An International Bhd, Destini Bhd, Perdana Petroleum Teknologi Bhd, Carimin Petroleum Bhd, Sapura Energy Bhd, Bumi Armada Bhd, Velesto Energy Bhd, My EG Services Bhd and Hibiscus Petroleum Bhd.

The gainers included Dutch Lady Milk Industries Bhd, Heineken Malaysia Bhd, KKB Engineering Bhd, Lingkaran Trans Kota Holdings Bhd, Chin Teck Plantations Bhd, United Plantations Bhd, Petron Malaysia Refining & Marketing Bhd and Naim Holdings Bhd.

Asian shares barely budged on Thursday, as investors reacted cautiously to mixed data from China, while the pound hovered near nine-month highs as the risk of a no-deal Brexit receded following a late-night vote, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan held at 522.06 points, it said.

Affin Hwang Capital Research said the FBM KLCI Index rebounded slightly on Tuesday, gaining 6.96 points or 0.42%, closing at 1678.24.

“Technically, sentiments in the local market remain sluggish as the index struggled to overcome its immediate resistance at 1700. Trading activities remained sideways with downward bias.

“Pullback by the FBM KLCI Index currently in progress,” the research house said.