KUALA LUMPUR (Sept 25): The FBM KLCI drifted lower at mid-morning, tracking the lacklustre regional markets.
At 10.05am, the FBM KLCI shed 0.27 points to 1,799.90.
Gainers edged losers by 223 to 220, while 282 counters traded unchanged. Volume was 503.96 million shares valued at RM284.46 million.
The losers included Panasonic Manufacturing Malaysia Bhd, British American Tobacco (M) Bhd, Hong Leong Industries Bhd, Scientex Bhd, ViTrox Corp Bhd, Cycle & Carriage Bintang Bhd, Aturmaju Resources Bhd, YSP Southeast Asia Bhd, Amway Holdings (M) Bhd and Hai-O Enterprise Bhd.
The actives included Sapura Energy Bhd, Hibiscus Petroleum Bhd, QES Group Bhd, Reach Energy Bhd, Borneo Oil Bhd, Nova MSC Bhd, Dagang NeXchange Bhd and Bumi Armada Bhd.
The gainers included Nestle (M) Bhd, Petronas Dagangan Bhd, Petron Malaysia Refining & Marketing Bhd, Hong Leong Financial Group Bhd, Hengyuan Refining Company Bhd, Allianz Malaysia Bhd, SP Setia Bhd and Apex Healthcare Bhd.
Asia stocks struggled on Tuesday as the latest round of U.S.-China tariffs revived fears the trade dispute would knock global growth, while crude oil was elevated near four-year highs after Saudi Arabia and Russia ruled out immediate production increases, according to Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.1 percent, it said.
Affin Hwang Capital Research said the FBM KLCI Index lost 10.47 points last session, and that market breadth negative with 304 gainers and 530 losers.
“Nonetheless, price did not manage to break below the 20 days EMA. Moving forward, anticipate the index to experience consolidation with downward bias.
“The FBM KLCI Index may experience normal consolidation in the near-term,” it said.