KLCI ekes out marginal gains amidst mixed regional markets

noon_market_up_theedgemarkets

noon_market_up_theedgemarkets

-A +A

KUALA LUMPUR (Aug 5): The FBM KLCI eked out marginal gains at the midday break today as regional markets traded mixed.

At 12.30pm, the FBM KLCI was up 4.61 points to 1,728.34.

Gainers led losers by 330 to 293, while 310 counters traded unchanged. Volume was 557.12 million shares valued at RM481.47 million.

The top gainers included DanaInfra Nasional Bhd, MISC Bhd, VS Industry Bhd, Top Glove Corporation Bhd, Genting Plantations Bhd, CIMB Group Holdings Bhd, Petronas Gas Bhd, Maxis Bhd, YSP Southeast Asia Bhd, Fraser & Neave Holdings Bhd and KLCC Property Holdings Bhd.

The actives included RGB International Bhd, Sunway Construction Group Bhd, Globaltec Formation Bhd, Pesona Metro Holdings Bhd, The Media Shoppe Bhd, Perwaja Holdings Bhd, Sumatec Resources Bhd and Tiger Synergy Bhd.

The decliners included British American Tobacco (M) Bhd, Hong Leong Financial Group Bhd, Malaysia Airports Holdings Bhd, Oriental Food Industries Bhd, Teo Seng Capital Bhd, Boustead Holdings Bhd, Tenaga Nasional Bhd and UMW Holdings Bhd.

Asian share markets were in a mixed mood on Wednesday as the mounting risks of a hike in US interest rates as early as next month lifted the dollar and bond yields, pressuring currencies across the region, according to Reuters.

Moves were mostly minor with Japan's Nikkei up 0.2% and South Korea's KOSPI off 0.1%. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.5%, it said.

BIMB Securities Research said that on earlier trading, key regional indexes closed lower yesterday due to overnight losses in the US.

Nonetheless, it said China shares ended higher after officials announced fresh steps to restrict short selling.

It said that locally, the FBM KLCI lost 20.46 points or 1.17% to 1,723.73 with strong selling in telco stocks.

“Trading participation saw net buying by foreign institutions and local retail while local institutions were net sellers.

“We expect the local market to remain sideways with slight downside bias due to lack of fresh catalysts with the index hovering circa 1,720,” it said.