KUALA LUMPUR (Oct 26): The FBM KLCI pared some of its loss at the midday break but sentiment stayed edgy in line with the nervy regional markets.
At 12.30pm, the FBM KLCI fell 4.38 points to 1,682.21. The index had earlier slipped to a low of 1,678.35.
On Bursa Malaysia, all the indices save for healthcare and industrial production were in the red.
Losers led gainers by 453 to 267, while 1,180 counters traded unchanged. Volume was 976.92 million shares valued at RM722.79 million.
The top losers included Malaysian Pacific Industries Bhd, KESM Industries Bhd, Public Bank Bhd, Nestle (M) Bhd, Fraser & Neave Holdings Bhd, Petronas Gas Bhd, Mi Equipment Holdings Bhd, Sarawak Oil Palms Bhd, MISC Bhd, Latitude Tree Holdings Bhd and Pineapple Resources Bhd.
The actives included Seacera Group Bhd, Nova MSC Bhd, Sapura Energy Bhd, Hibiscus Petroleum Bhd, Datasonic Group Bhd, Prestariang Bhd and Frontken Corp Bhd.
The gainers included Selangor Properties Bhd, British American Tobacco (M) Bhd, Heineken Malaysia Bhd, Hong Leong Industries Bhd, Hong Leong Financial Group Bhd, Syarikat Takaful Malaysia Keluarga Bhd, United Plantations Bhd and icapital.biz Bhd.
Asian shares slipped again on Friday morning, deepening this week's markets rout, after disappointing results from Alphabet Inc and Amazon.com heightened concerns over the outlook for US corporate earnings, global trade and economic growth, according to Reuters.
The wobbly start for regional bourses came despite a bounce on Wall Street overnight, which was helped by bargain-hunting and positive earnings from Microsoft Corp, it said.
Affin Hwang Capital Research said although US market outlook still looks jittery, any dip in global markets may affect the local market temporarily only as the KLCI is in oversold territory.
It said moving forward, once the US market settles, it anticipates the local market as well as regional peers to stage a strong technical rebound moving to year end all the way to the upcoming Chinese New Year.
"The FBM KLCI Index anticipated to resume lower, technical rebound perceived as completed," it said.