KUALA LUMPUR (April 13): The FBM KLCI was down 0.22% at the midday break today as regional markets pared some of their gains.
At 12.30pm, the FBM KLCI was down 4.17 points to 1,869.45. The index had earlier slipped to its intra-morning low of 1,866.98.
Gainers led losers by 344 to 242, while 530 counters traded unchanged. Volume was 1.31 billion shares valued at RM827.85 million.
The top losers included Kuala Lumpur Kepong Bhd, Panasonic Manufacturing Malaysia Bhd, British American Tobacco (M) Bhd, Padini Holdings Bhd, MISC Bhd, Genting Plantations Bhd, Petron Malaysia Refining & Marketing Bhd, Hartalega Holdings Bhd, Astro Malaysia Holdings Bhd and Genting Bhd.
The actives included Sapura Energy Bhd, SKH Consortium Bhd, Key Asic Bhd, Bumi Armada Bhd, Sumatec Resources Bhd, Iris Corp Bhd, UMW Oil & Gas Corp Bhd and Vivocom International Holdings Bhd.
The gainers included Dutch Lady Milk Industries Bhd, Tasek Corp Bhd, KESM Industries Bhd, Carlsberg Brewery Malaysia Bhd, Aeon Credit Service (M) Bhd, Malaysian Pacific Industries Bhd, Petronas Dagangan Bhd and LPI Capital Bhd.
Asia stocks pared early gains on Friday as caution crept in ahead of the US earnings season and as investors weighed the possible impact on global growth from a tariff spat between the United States and China, according to Reuters.
Investors were also left digesting mixed data from China which showed March exports unexpectedly fell 2.7% from a year earlier while imports grew more than forecast, it said.
Affin Hwang Capital Research said US stocks continue to fluctuate within its consolidation channel with market sentiments focused on recent Fed's hawkish tone, which leans toward faster rate hikes later this year, the underlying risks of escalating trade war and the geo-political issue in Syria.
It said consolidation amongst US stocks was expected to continue with a technical view that recent low, recorded in February, might be re-tested in the near future.
"For stocks in Bursa Malaysia, sentiments remain upbeat, grossly due to GE14 play, with the FBM KLCI fluctuating between 1,880 and 1,820.
"Local stocks likely to drift higher as we approach the polling day. Accumulate index-linked and selected quality stocks," it said.