Thursday 25 Apr 2024
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KUALA LUMPUR (June 27): The FBM KLCI fell 0.79% at mid-morning today as market sentiment remained negative in line with the fall at regional markets.

At 10am, the FBM KLCI lost 12.88 points to 1,621.17.

The top losers included Dutch Lady Milk Industries Bhd, British American Tobacco (Malaysia) Bhd, Petronas Dagangan Bhd, Hong Leong Bank Bhd, Lafarge Malaysia Bhd, Panasonic Manufacturing Malaysia Bhd, United U-Li Corporation Bhd, Petron Malaysia Refining & Marketing Bhd, IHH Healthcare Bhd and Fraser & Neave Holdings Bhd.

The actives included Vivocom International Holdings Bhd, LKL International Bhd, Bumi Armada Bhd, SapuraKencana Petroleum Bhd, Borneo Oil Bhd, AirAsia X Bhd, Malaysia Building Society Bhd and Iris Corporation Bhd.

The gainers included Far East Holdings Bhd, DanaInfra Nasional Bhd, Ekovest Bhd, KESM Industries Bhd, Farm's Best Bhd, Tan Chong Motor Holdings Bhd, Malaysia Airports Holdings Bhd and Hong Leong Industries Bhd.

Asian stocks opened weaker and the British pound fell almost 2% in early Asian trade on Monday as markets struggled to shake off deep uncertainty sparked by Britain's decision to leave the European Union, according to Reuters.

Global stock markets lost about US$2 trillion in value on Friday (June 24), with MSCI's broadest gauge of the world's stock markets falling 4.8%, its biggest decline in nearly five years, it said.

Hong Leong IB Research said that in tandem with the routs in global markets and oil prices, the FBM KLCI may continue its volatility this week, as investors opt for sidelines until more clarity emerges.

"Ahead of the potential end June window dressing, near-term FBM KLCI supports are 1,600–1,612 while resistances fall on 1,635–1,642 levels," it said.

 

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