KLCI falls 0.59% as Public Bank, Maxis weigh

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KUALA LUMPUR (April 18): The FBM KLCI fell 0.59% at the midday break today, tracking regional markets, dragged by losses including at Public Bank Bhd and Maxis Bhd.

At 12.30pm, the FBM KLCI lost 9.44 points to 1,611.46.

Losers led gainers by 406 to 163, while 486 counters traded unchanged. Volume was 1.41 billion shares valued at RM794.57 million.

The decliners included Public Bank, Hong Leong Industries Bhd, Ajinomoto (M) Bhd, Panasonic Manufacturing Malaysia Bhd, Allianz Malaysia Bhd, Carlsberg Brewery Malaysia Bhd, Maxis, Aeon Credit Service (M) Bhd, Hong Leong Bank Bhd and Petronas Gas Bhd.

The actives included Orion IXL Bhd, Ekovest Bhd, Sapura Energy Bhd, Vivocom International Holdings Bhd, Bumi Armada Bhd and NetX Holdings Bhd.

The gainers included Nestle (M) Bhd, British American Tobacco (M) Bhd, Manulife Holdings Bhd, Fraser & Neave Holdings Bhd, Time dotCom Bhd, Syarikat Takaful Malaysia Keluarga Bhd and Tasek Corp Bhd.

Asian shares slipped on Thursday after losses on Wall Street but trade was subdued as investors awaited business surveys in Europe and largely stayed on the sidelines ahead of the long Easter weekend holiday, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.2%, reversing course after brushing its highest since late July 2018 early in the trading session, it said.

Affin Hwang Capital Research said the FBM KLCI Index turned lower, dropping 8.56 points or 0.53% on Wednesday. The index closed at 1,620.90.

"Market breadth was severely negative with 208 gainers only as compared to 661 losers. Performance of our local market was bogged down by selling in heavy-weight counters led by Maybank.

"Prices turned lower in yesterday's session and has broken below the 1,630 immediate support, strengthening seller's position.

"Maintain a strong bias to the downside," it said.