KUALA LUMPUR (Nov 5): The FBM KLCI pared some of its losses at the midday break on Wednesday but overall sentiment remained tepid in line with weaker regional markets.
At 12.30pm, the FBM KLCI was down 6.20 points to 1,841.16. The index had earlier fallen to its intra morning low of 1,837.72.
The top losers included Petronas Dagangan Bhd, Hong Leong Bank Bhd, Box-Pak (Malaysia) Bhd, Malaysia Airports Holdings Bhd, PPB Group Bhd, Aeon Credit Service (M) Bhd, Signature International Bhd, AMMB Holdings Bhd and Hong Leong Financial Group Bhd.
Malaysian Airline System Bhd was the most actively traded counter with 255.19 million shares done. The stock rose 3.92% or one sen to 26.5 sen.
The other actives included Efficient E-Solutions Bhd, Nexgram Holdings Bhd, JAG Bhd, Ni Hsin Resources Bhd, Sona Petroleum Bhd, YGL Convergence Bhd, SapuraKencana Petroleum Bhd and Konsortium Transnasional Bhd.
The gainers included Tasek Corporation Bhd, DanaInfra Nasional Bhd, United Plantations Bhd, Dutch Lady Milk Industries Bhd, Kuala Lumpur Kepong Bhd, Ajinomoto (Malaysia) Bhd, UMW Holdings Bhd, Cycle & Carriage Bintang Bhd, F&N Holdings Bhd and MISC Bhd.
Regionally, Asian shares got off to a lacklustre start on Wednesday after a plunge in oil prices dragged down U.S. shares, while the dollar took a breather after this week's rally, according to Reuters.
Crude prices steadied after falling to multi-year lows on news top oil exporter Saudi Arabia cut its U.S. sales prices, it said.
BIMB Securites Research said that in Asia, key indices ended mixed on Tuesday, with KOSPI and HSI ended lower on weaker corporate earnings while Japanese stocks rose 2.7% to a seven-year high, bringing gains to 7.7% since the BOJ’s surprise decision Friday to expand easing measures, with a stronger dollar powering buying.
Back home, it said the FBM KLCI fell 5.98 points or 0.32% to 1,847.36 caused by selling among auto, oil & gas and tobacco counters.
“Trading participation saw net buying from local institutions and retails while foreign institutions were net sellers.
“For today, we expect the local market to remain sideways with the index hovering in the region of 1,845-50,” it said.