KLCI falls 1% as key index-linked stocks drop, in line with retreat at global markets

KLCI falls 1% as key index-linked stocks drop, in line with retreat at global markets
-A +A

KUALA LUMPUR (June 18): The FBM KLCI fell 1% at mid-morning as key index-linked blue chips dropped in line with the slip at regional markets, as the possibility of renewed global lockdowns dragged investor sentiment.

At 10am, the FBM KLCI lost 15.24 points to 1,511.08.

Market breadth was negative with 541 losers and 160 gainers, while 327 counters traded unchanged. Trading volume was 1.59 billion shares valued at RM766.23 million.

The top losers included Nestle (M) Bhd, Top Glove Corp Bhd, Hong Leong Financial Group Bhd, Time Dotcom Bhd, Public Bank Bhd, MISC Bhd, Petronas Chemicals Group Bhd and Malaysia Airports Holdings Bhd.

The actives included MQ Technology Bhd, Minetech Resources Bhd, Sapura Energy Bhd, PDZ Holdings Bhd, MSM Malaysia Holdings Bhd, UCrest Bhd,Velesto Energy Bhd and Genting Malaysia Bhd.

The gainers included Carlsberg Brewery Malaysia Bhd, Supermax Corp Bhd, Kossan Rubber Industries Bhd, SAM Engineering & Equipment (M) Bhd, Sarawak Consolidated Industries Bhd and Manulife Holdings Bhd.

Bloomberg said Asian stocks and US equity futures slipped in early Thursday trading and the yen edged higher, with investors continuing to weigh an increase in coronavirus cases in some places against stimulus measures.

Rakuten Trade Sdn Bhd said profit-taking activities emerged following the strong uptrend on Wall Street over the last few days.

It said the Dow Jones Industrial Average lost 170 points to remain above the 26,100 mark yesterday.

“With the consolidation still very much intact, we reckon regional markets to be mixed today amid no clear catalyst.

“Locally, we expect the FBM KLCI to experience some profit taking as well after yesterday’s strong closing.

“Hence, we see the benchmark index to oscillate within a range of between 1,520-1,530 today,” it said.