KUALA LUMPUR (Aug 2): The FBM KLCI fell 0.44% at the midday break today in line with the drop at regional markets as sentiment at the local bourse took a hit and turned negative.
At 12.30pm, the FBM KLCI fell 7.94 points to 1,780.37.
Losers led gainers by 418 to 139, while 564 counters traded unchanged. Volume was 1.21 billion shares valued at RM754.22 million.
The top losers included Nestle (M) Bhd, MISC Bhd, Carlsberg Brewery Malaysia Bhd, Petronas Dagangan Bhd, Petronas Gas Bhd, United Plantations Bhd, Heineken Malaysia Bhd and Riverview Rubber Estates Bhd.
The actives included Priceworth International Bhd, Sumatec Resources Bhd, Tiger Synergy Bhd, Sapura Energy Bhd, GSB Group Bhd, Borneo Oil Bhd, Malakoff Corp Bhd and DRB-Hicom Bhd.
The gainers included KESM Industries Bhd, Dutch Lady Milk Industries Bhd, Ajinomoto (M) Bhd, Aeon Credit Service (M) Bhd, Hong Leong Financial Group Bhd and Panasonic Manufacturing Malaysia Bhd.
Asian stocks dropped on Thursday as the latest escalation in the Sino-US trade war hit Chinese shares, while global bond markets were rattled by increased borrowing by Washington and Japan's new tolerance for higher yields, according to Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.8%, dragged down by a 1.2% fall in Chinese H-shares. Japan's Nikkei declined 0.4%, it said.
Kenanga IB Research said Asian markets ended mixed yesterday with investors being cautious over the ongoing trade war development.
"Back home, last minute buying saw the FBMKLCI gained 4.06pts or 0.23% to end at 1,788.31.
"Chart-wise, technical outlook is positive as evidenced by the bullish stance of the MACD and RSI indicators.
"Expect more follow-through buying that will see the shares head towards next resistance at 1,830 (R1) and possibly 1,890 (R2)," it said.