KLCI falls 1.02% as Tenaga, CIMB, Axiata drag

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KUALA LUMPUR (Oct 23): The FBM KLCI lost 1.02% at the midday break today, tracking regional markets and weighed by losses at key KLCI component stocks including Tenaga Nasional Bhd, CIMB Group Holdings Bhd and Axiata Group Bhd.

At 12.30pm, the FBM KLCI lost 17.62 points to 1,704.85.

Losers led gainers by 563 to 159, while 1,182 counters traded unchanged. Volume was 1.07 billion shares valued at RM879.18 million.

The top losers included Dutch Lady Milk Industries Bhd, Tenaga, Nestle (M) Bhd, Hengyuan Refining Company Bhd, KESM Industries Bhd, CIMB, Petronas Gas Bhd, Axiata and AirAsia Group Bhd.

The actives included Sapura Energy Bhd, Prestariang Bhd, Iris Corp Bhd, Borneo Oil Bhd, My EG Services Bhd, Datasonic Group Bhd, Hibiscus Petroleum Bhd and Pesona Metro Holdings Bhd.

The gainers included British American Tobacco (M) Bhd, Heineken Malaysia Bhd, Carlsberg Brewery Malaysia Bhd, ViTrox Corp Bhd, Elsoft Research Bhd and Maxis Bhd.

Asian shares fell on Tuesday as earnings season nerves in the US dented Wall Street, while a cocktail of negative drivers from Saudi Arabia's diplomatic isolation to concerns over Italy's budget and Brexit talks depressed sentiment, according to Reuters.

Selling in the region erased gains made in the previous two sessions' rally, which were led by China stimulus hopes, with the MSCI's broadest index of Asia-Pacific shares outside Japan dropping 1.3%, it said.

Affin Hwang Capital Research said the FBM KLCI Index fell 9.67 points in the last session.

"Technical indicators on the daily chart, namely RSI & Stochastic recent up move were short lived as the indicators are showing signs of reversal lower, indicating growing downward momentum.

"Anticipate our local index to further slide lower today, in [line] with souring sentiments globally.

"The FBM KLCI Index anticipated to resume lower, technical rebound perceived as completed," it said.