KLCI falls 0.43% as select blue chips dip

noon_market_down_theedgemarkets

-A +A

KUALA LUMPUR (June 25): The FBM KLCI fell 0.43% at the midday break today, weighed by select blue chips as market sentiment turned negative.

At 12.30pm, the FBM KLCI fell 7.57 points to 1,724.11.

Losers led gainers by 417 to 237, while 250 counters traded unchanged. Volume was 866.22 million shares valued at RM812.05 million.

The top losers included British American Tobacco (M) Bhd, PPB Group Bhd, Enra Group Bhd, RHB Capital Bhd, Allianz (M) Bhd, Telekom Malaysia Bhd, Carlsberg Brewery (M) Bhd, Lafarge Malaysia Bhd, UMW Holdings Bhd, Tenaga Nasional Bhd and Petronas Chemicals Group Bhd.

The actively traded stocks included KNM Group Bhd, AirAsia X Bhd, Scanwolf Corporation Bhd, AirAsia Bhd, APFT Bhd, Dolphin International Bhd, Sumatec Resources Bhd and Frontken Corporation Bhd.

Asian shares and the dollar edged down in Asian trade on Thursday, with investors on ice ahead of a meeting of European Union leaders later in the session as Greece continued last-minute efforts to avert a default, according to Reuters.

Athens' talks with creditors bogged down on details, with next week's deadline to repay 1.6 billion euros (US$1.79 billion) to the International Monetary Fund looming, and threatening to trigger Greece's removal from the euro zone, it said.

The top gainers included United U-Li Corporation Bhd, DanaInfra Nasional Bhd, Nestle (M) Bhd, SCGM Bhd, Top Glove Corporation Bhd, Petronas Dagangan Bhd and Panasonic Malaysia Manufacturing Bhd.

JF Apex Securities Research said that US markets plunged after Greece's proposal to its creditors was rejected.

Similarly, it said European stocks declined following the stalemate in Greece's debt negotiation.

“On the local market, the FBM KLCI rose 4.82 points to 1,731.86 points after a last minute surge.

“Following the latest development in Greece, we expect the FBM KLCI to trend lower with immediate support at 1,715 points,” it said.