Saturday 20 Apr 2024
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KUALA LUMPUR (June 13): The FBM KLCI fell 0.41% at mid-morning today, tracking losses at regional markets, weighed by select index-linked blue chips.

At 10.05am, the FBM KLCI was down 7.18 points to 1,756.98.

Losers led gainers by 281 to 195, while 279 counters traded unchanged. Volume was 458.03 million shares valued at RM264.46 million.

The top losers included Nestle (M) Bhd, British American Tobacco (M) Bhd, Public Bank Bhd, Heineken Malaysia Bhd, Fraser & Neave Holdings Bhd, Hong Leong Financial Group Bhd, Carlsberg Brewery Malaysia Bhd and BSL Corp Bhd.

The actives included Gabungan AQRS Bhd, Sapura Energy Bhd, My E.G. Services Bhd, Sumatec Resources Bhd, GSB Group Bhd and Berjaya Corp Bhd.

The top gainers included Top Glove Corp Bhd, Petronas Gas Bhd, United U-Li Corp Bhd, Chemical Company of Malaysia Bhd, Supermax Corp Bhd, JcbNext Bhd, Yinson Holdings Bhd and B.I.G Industries Bhd.

Asian shares edged slightly lower on Wednesday as investors looked to the Federal Reserve policy decision and any clues it might give on future rate hikes, shifting focus away from the historic US-North Korea summit in Singapore, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.15% in early trade, giving up the slim gains they made following Tuesday's meeting between US President Donald Trump and North Korean leader Kim Jong Un, it said.

Hong Leong IB Research in a traders' brief said away from international relations after the historic Trump-Kim summit, investors will refocus on central-bank meetings this week.

"While US markets have remained comparatively calm over the past two weeks, stricter monetary policy from the Fed, as well as more hawkish commentary from the ECB, appeared to stress certain debt-heavy emerging economies, which may spark interim volatility towards the stocks and bonds markets.

"Bursa Malaysia is likely to remain volatile as foreign investors are jittery due to heightened global risk aversion.

"Nevertheless, the bigger picture for Malaysia looks sanguine as institutional reforms, a more transparent government and curbing corruption will help improve Malaysia's governance scores, and strengthen investor confidence in the medium to long term," it said.

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