Friday 29 Mar 2024
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KUALA LUMPUR (Mar 24): The FBM KLCI rose 0.6% at the midday break today, lifted by select index-linked stocks which included Genting Bhd, Tenaga Nasional Bhd and CIMB Group Holdings Bhd.

At 12.30pm, the FBM KLCI rose 10.83 points to 1,806.68.

However, decliners led gainers by 331 to 302, while 332 counters traded unchanged. Volume was 1.05 billion shares valued at RM668.22 million.

The top gainers included DanaInfra Nasional Bhd, Genting Bhd, British American Tobacco (M) Bhd, Top Glove Corporation Bhd, Carlsberg Brewery (M) Holdings Bhd, Tenaga, CIMB, Karex Bhd, UMW Holdings Bhd, Tasco Bhd and Faber Group Bhd.

The actively traded stocks included Asia Bio Energy Technologies Bhd, Takaso Resources Bhd, Ingenuity Solutions Bhd, Sumatec Resources Bhd, Xinghe Holdings Bhd and The Media Shoppe Bhd.

Meanwhile, the decliners included Dutch Lady Milk Industries Bhd, Hong Leong Capital Bhd, Nestle (M) Bhd, My E.G. Services Bhd, United Plantations Bhd, Vitrox Corporation and Lafarge Malaysia Bhd.

An index of Asian shares erased its early gains on Tuesday after a measure of Chinese factory activity unexpectedly skidded to an 11-month low, according to Reuters.

The flash HSBC/Markit Purchasing Managers' Index (PMI) dipped to 49.2 in March, below the 50-point level. Economists polled by Reuters had forecast a reading of 50.6, slightly weaker than February's final PMI of 50.7, it said.

MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.1%, said Reuters.

Maybank IB head of retail research and chief chartist Lee Cheng Hooi in a note to clients today said the FBM KLCI fell 7.80 points to 1,795.85 yesterday, while the FBMEMAS and FBM100 also closed lower by 41.00 points and 40.29 points, respectively.

“We expect some nibbling at the supports of 1,774 to 1,790, whilst heavy liquidation activities may cap rebounds at the resistances of 1,795 and 1,815,” he said.

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