KLCI pares gains as regional markets trade mixed

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KUALA LUMPUR (Nov 10): The FBM KLCI pared some of its gains at the midday break on Monday, in line with the mixed regional markets.

At 12.30pm, the FBM KLCI was up 5.70 points to 1,829.89. The index had earlier risen to a high of 1,831.82.

The top gainers in the morning session included Asia File Corporation Bhd, Kuala Lumpur Kepong Bhd, Guiness Anchor Bhd, Keck Seng (Malaysia) Bhd, MISC Bhd, Cycle & Carriage Bintang Bhd, British American Tobacco (M) Bhd, Lafarge Malaysia Bhd, KLCC Property Holdings Bhd and KPJ Healthcare Bhd.

Systech Bhd was the most actively traded counter with 67.1 million shares done. The stock jumped 17.78% or four sen to 26.5 sen.

The other actives included DGB Asia Bhd, IFCA MSC Bhd, Genetec Technology Bhd, Minetec Resources Bhd, Carimin Petroleum Bhd and Technodex Bhd.

The decliners included Syarikat Takaful Malaysia Bhd, My E.G.Services Bhd, Berjaya Auto Bhd, Uzma Bhd, United Plantations Bhd, Oriental Holdings Bhd, Eco World Development Group Bhd, MMC Corporation Bhd and Supermax Corporation Bhd.

BIMB Securities Research said that in Asia, markets closed mixed last Friday amid some profit taking activities following a softer European performance.

It said that locally, the FBM KLCI lost 7.79 points at 1,824.19 as foreign funds exited.

“Last Friday, net foreign outflow was RM94 million pushing the week’s foreign flow to negative amounting to RM29.7 million.

“In fact, major SEA markets all suffered last Friday as foreign funds continued with their profit taking.

“We may see an extended consolidation for the local bourse with 1,820 as the immediate support for today,” it said.