KLCI extends loss as regional markets stay weak

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KUALA LUMPUR (Oct 2): The FBM KLCI extended its loss at mid-morning on Thursday, in line with the retreat at most regional markets.

At 10.03am, the FBM KLCI fell 5.16 points to 1,840.16.

The top losers included BAT, Timecom, Dutch Lady, Calrsberg, HLFG, Press Metal, Kluang,Lafarge Malaysia, CIMB, MPI, Genting Plantations, Scientex and Telekom.

MUI Industries was the most actively traded counter with 34.3 million shares done. The stock fell 1.75% or half a sen to 28 sen.

The other actives included Flonic, Sanichi, Takaso, Sumatec, PDZ, ManagePay, Berjaya Corp, Xing He and Hubline.

The gainers included United Plantations, ML Global, Tasek, Ajinomoto, Aeon Credit, KAF, Takaful, IJM Land and Datasonic.

Regionally, Asian stocks fell on Thursday, dragged lower after the first case of Ebola diagnosed in the United States spooked Wall Street overnight, while a bout of risk aversion pushed down yields and put the dollar's recent rally on pause, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2 percent, and Tokyo's Nikkei shed 1.3 percent, it said.

Hong Leong IB Research said that on the wake of the overnight Dow’s plunge and external headwinds coupled with the 20sen petrol hike effective today, Bursa Malaysia is likely to trade lower today.

“Given the failure to stage a breakout above the immediate resistance of 200-day simple moving average (SMA) in the last few sessions, the odds would favour weaker trend ahead, targeting 1800-1820 zones if the 6-month low of 1829 support cannot hold.

“On the upside, the 200-day SMA at 1,851 may continue to act as resistance in the immediate term. Key resistances are situated at 1852-1859,” it said.