Thursday 28 Mar 2024
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KUALA LUMPUR (July 4): The FBM KLCI pared some its loss at midday break today, and attempted to climb in line with regional markets.

At 12.30pm, the FBM KLCI dipped 0.97 points to 1,689.08. The index had earlier slipped to a low of 1,686.44.

Gainers led losers 300 to 230, while 533 counters traded unchanged. Volume was 1.77 billion shares, valued at RM811.35 million.

The decliners included Nestle (M) Bhd, Petronas Gas Bhd, Aeon Credit Service (M) Bhd, LPI Capital Bhd, Atlan Holdings Bhd, Hong Leong Bank Bhd, Heineken Malaysia Bhd, Ireka Corp Bhd and UMW Holdings Bhd.

The actives included Sumatec Resources Bhd, KNM Group Bhd, XOX Bhd, Pegasus Heights Bhd, Mestron Holdings Bhd, Malayan Flour Mills Bhd and Vsolar Group Bhd.

The gainers included Yinson Holdings Bhd, KESM Industries Bhd, Revenue Group Bhd, LTKM Bhd, Genting Plantations Bhd, British American Tobacco (M) Bhd, Batu Kawan Bhd, Telekom Malaysia Bhd and Pentamaster Corp Bhd.

Asian stocks advanced on Thursday, tracking solid gains on Wall Street, as data pointed to slowing economic growth in the United States, bolstering the prospect of rate cuts by the Federal Reserve as soon as this month, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3%, while Japan's Nikkei and Australian benchmark were up 0.3% and 0.5 respectively, although a U.S. public holiday kept activity somewhat subdued, it said.

Affin Hwang Capital Research said the FBM KLCI Index closed flat on Wednesday, edging 0.95 points or 0.1% lower only.

It said the index settled at 1690.05 at the end of the day.

“The index initially fell about 6 points before gradually clawing back losses, closing near open at the end. This may indicate that buying momentum is still present, with buyers still interested in the markets.

“Prices are supported just above the key EMA200d. The index is now trading at the immediate resistance around 1690 and it will be interesting to see if the index is able to breach above it and continue on its upward wave.

“Anticipate the index to move sideways with upward bias,” it said.

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