Friday 29 Mar 2024
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KUALA LUMPUR (Apr 16): The FBM KLCI pared some of its gains at the midday break today despite the uptrend at most regional markets.

At 12.30pm, the FBM KLCI was up 1.75 points to 1,841.88. The index had earlier risen to its intra-morning high of 1,849.22.

Gainers led losers by 453 to 292, while 342 counters traded unchanged. Volume was 1.56 billion shares valued at RM1.18 billion.

The top gainers included DanaInfra Nasional Bhd, Public Bank Bhd, Globetronics Technology Bhd, IJM Corporation Bhd, Pharmaniaga Holdings Bhd, SBC Corportation Bhd, My E.G. Services Bhd and Malayan Banking Bhd.

The actively traded stocks included Frontken Corporation Bhd, Xinghe Holdings Bhd, Perisai Petroleum Teknologi Bhd, KNM Group Bhd, Bumi Armada Bhd, Systech Bhd and Sumatec Resources Bhd.

The top losers included APM Automotive Bhd, Asia File Corporation Bhd, Dutch Lady Milk Industries Bhd, Genting Bhd, UMW Holdings Bhd, Genting Malaysia Bhd and Telekom Malaysia Bhd.

Most Asian share markets took cues from a global surge in equities and rose on Thursday, while weak US economic data sent the dollar lower.

MSCI's broadest index of Asia-Pacific shares outside Japan climbed 1%. South Korean, Australian, Chinese and Malaysian stocks gained, while Japan's Nikkei lost 0.5% on a stronger yen.

BIMB Securities Research said key regional markets ended mostly lower yesterday with Japan's Nikkei edged down in choppy trade as investors took profits on recent gainers.

The research house said Hong Kong stocks ended higher but gains were limited after data showed China’s economic growth declined to a six-year low in the first quarter.

It said that locally, the FBM KLCI ended flattish in a volatile trading, gaining 0.52 points or 0.03% to 1,840.13.

“Trading participation saw net buying by foreign institutions while local institutions and retail were net sellers.

“We reckon the local market remain sideways with slight downside bias due to weak China economy data and lack of fresh catalysts which would affect investor sentiment.

“Expect to see immediate support at 1,835,” it said.

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