Thursday 28 Mar 2024
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KUALA LUMPUR (March 21): The FBM KLCI lost 1.05% at the midday break today, dragged including by key index-linked banking stocks and Top Glove Corp Bhd.

At 12.30pm, the FBM KLCI fell 17.70 points to 1,666.51.

Losers led gainers by 386 to 175, while 537 counters traded unchanged. Volume was 1.78 billion shares valued at RM1.05 billion.

The losers included Nestle (M) Bhd, Public Bank Bhd, PPB Group Bhd, Kuala Lumpur Kepong Bhd, Hong Leong Bank Bhd, Heineken Malaysia Bhd, Top Glove, Malayan Banking Bhd, AMMB Holdings Bhd and Sarawak Plantation Bhd.

The actives included Dynaciate Group Bhd, Sapura Energy Bhd, Perdana Petroleum Bhd, Sino Hua-An International Bhd, JAG Bhd, Eversendai Corp Bhd and Berjaya Corp Bhd.

The gainers included Petronas Gas Bhd, Syarikat Takaful Malaysia Keluarga Bhd, ViTrox Corp Bhd, Malaysian Pacific Industries Bhd, Petronas Dagangan Bhd, Yinson Holdings Bhd and Allianz Malaysia Bhd.

Shares in Asia rose on Thursday after the US Federal Reserve took a more accommodative stance at its policy meeting, but concerns over US-China trade talks and slowing global growth capped broad gains and pulled some markets lower, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5%, it said.

Affin Hwang Capital Research said the FBM KLCI Index lost 3.47 points or 0.21% in yesterday's trading session, closing at 1,684.21.

"Market breadth was negative — 363 gainers, 469 losers. The index has been trading below the 1,700 key psychological level for almost three weeks now and prices have once again moved below all of the key daily EMAs (exponential moving averages). This reaffirms a bearish bias in the index.

"We may see prices retest lows made recently around the 1,665 level this week. FBM KLCI Index resuming its short-term downtrend," it said.

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