KUALA LUMPUR (Aug 28): The FBM KLCI extended its lacklustre run on Thursday, tracking cautious regional markets.
At 12.30pm, the benchmark index dipped 2.33 points to 1,588.51.
Losers led gainers by 329 to 164, while 516 counters traded unchanged. Volume was 962.71 million shares valued at RM638.71 million.
The top losers included Nestle (M) Bhd, Dutch Lady Milk Industries Bhd, Heineken Malaysia Bhd, Genting Plantations Bhd, Carlsberg Brewery Malaysia Bhd, Fraser & Neave Holdings Bhd, Hong Leong Financial Group Bhd, Spritzer Bhd, Hong Leong Bank Bhd and ViTrox Corp Bhd.
The actives included KNM Group Bhd, Iris Corp Bhd, AirAsia X Bhd, MNC Wireless Bhd and DRB-Hicom Bhd.
The gainers included Petroans Gas Bhd, Petronas Dagangan Bhd, Padini Holdings Bhd, Time Dotcom Bhd, Bursa Malaysia Bhd, Alliance Bank Malaysia Bhd, Westports Holdings Bhd, Sime Darby Bhd, Tenaga Nasional Bhd and Telekom Malaysia Bhd.
Asian shares eked out cautious gains on Wednesday, as higher Wall Street futures provided some relief after an overnight US selloff, though deeper worries about the global economy and trade have kept a lid on sentiment, according to Reuters.
Japan's Nikkei rose 0.15%, Australia's shares climbed 0.13% while Korea's KOSPI was up 0.4%. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.06%, dragged lower by Chinese markets, it said.
Affin Hwang Capital Research said the FBM KLCI Index continued to drop in yesterday's session, shedding 9.69 points or 0.6%, closing at 1,590.84.
It said the index is now once again trading below the 1,600 psychological level.
"The brief rebound seen in the index may be ending as price is now making lower highs and lower lows again.
"Technical indicators are also indicating early signs of slowing down. MACD (moving average convergence divergence) is showing convergence towards the Signal line while RSI (relative strength index) & Stochastic are pointing downwards, forming a downward hook.
"Short-term technical rebound in progress. Nonetheless, medium-term downward bias remains," it said.