KLCI pares loss, down 0.18% in line with region

KLCI pares loss, down 0.18% in line with region
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KUALA LUMPUR (Oct 21): The FBM KLCI pared some of its loss but was still down 0.18% at mid-morning today, tracking lacklustre regional markets.

At 10am, the FBM KLCI fell 2.84 points to 1,568.31. The index had earlier slipped to a low of 1,567.13.

Losers led gainers by 269 to 245, while 275 counters traded unchanged. Volume was 478.42 million shares valued at RM228.71 million.

The losers included Nestle (M) Bhd, Aeon Credit Service (M) Bhd, Fraser & Neave Holdings Bhd, Scientex Bhd, British American Tobacco (M) Bhd, Bursa Malaysia Bhd, Hong Leong Industries Bhd and Petronas Gas Bhd.

The actives included MTAG Group Bhd, Bumi Armada Bhd, IFCA MSC Bhd, i-Stone Group Bhd, Lambo Group Bhd and Inari Amertron Bhd.

The gainers included Allianz Malaysia Bhd, Carlsberg Brewery Malaysia Bhd, Petronas Dagangan Bhd, Dutch Lady Milk Industries Bhd, Malaysian Pacific Industries Bhd, KESM Industries Bhd, UWC Bhd, Hong Leong Financial Group Bhd, Guan Chong Bhd and Pentamaster Corp Bhd.

Asian stocks were steady in a cautious start to the week on Monday, while the British pound fell following a delay to a crucial vote on Britain's divorce from the European Union, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was flat, with Australian shares down 0.3%. Japan's Nikkei rose 0.13%, it said.

Kenanga IB Research said Asian stocks were mixed last Friday as China released weaker-than-expected GDP growth figure of 6% (versus 6.1% expected).

It said back home, the FBM KLCI fell 3.35 points (-0.21%) to close at 1,571.15.

"Chart-wise, the underlying trend remains bearish as the index is trading below all the key SMAs (simple moving averages).

"However, we believe the index is currently undergoing a rebound rally.

"Support levels can be identified at 1,550 (S1) and 1,510 (S2), while overhead resistance levels can be found at 1,630 (R1) and 1,650 (R2)," it said.