Thursday 25 Apr 2024
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KUALA LUMPUR (Nov 28): The FBM KLCI was down 0.17% at mid-morning today, weighed by select index-linked blue chips including Genting Bhd.

At 10am, the FBM KLCI fell 2.76 points to 1,584.42.

Losers led gainers by 306 to 161, while 321 counters traded unchanged. Volume was 573.99 million shares valued at RM241.09 million.

The losers included British American Tobacco (M) Bhd, Kotra Industries Bhd, Petra Energy Bhd, G3 Global Bhd, Hong Leong Industries Bhd, Berjaya Sports Toto Bhd, Inari Amertron Bhd, Genting Bhd, Teo Guan Lee Corp Bhd and Suria Capital Holdings Bhd.

The actives included Solarvest Holdings Bhd, PUC Bhd, Bumi Armada Bhd, Sapura Energy Bhd, NetX Holdings Bhd and KNM Group Bhd.

The gainers included Allianz Malaysia Bhd, United Plantations Bhd, Batu Kawan Bhd, JcbNext Bhd, Tenaga Nasional Bhd and Syarikat Takaful Malaysia Keluarga Bhd.

Asian share markets wobbled on Thursday as concerns that tensions over Hong Kong could stymie a US-China trade deal cast a pall over Thanksgiving cheer from unexpectedly positive US economic data, according to Reuters.

US President Donald Trump on Wednesday signed into law congressional legislation backing pro-democracy protesters in Hong Kong despite angry objections from Beijing, it said.

Hong Leong IB Research said given the positive mood following the solid bag of data: stronger US GDP, less jobless claims and higher order of durable goods as well as the Federal Reserve's Beige Book suggesting economic activity expanded modestly in the month of October till mid-November, there may be further upside potential on Wall Street.

"Traders will continue to monitor the trade deal and trade tariffs that could be imposed during mid-December. As of this juncture, the Dow is uptrend with trading range located around 27,600-28,500.

"The positive progress in the US-China trade front, where officials from both the US and China have discussed and could be resolving further the core issues of the trade deal, could continue to lift the market sentiment.

"Also, traders could look into index heavyweights amid the window dressing activities in the month of December. The FBM KLCI may trade within a range of 1,580-1,620," it said.

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