KUALA LUMPUR (Dec 11): The FBM KLCI pared some of its losses at the midday break on Thursday, but the broader market sentiment remained weak on external concerns amidst falling crude oil prices.
At 12.30pm, the FBM KLCI was down 8.52 points to 1,757.00. The index had earlier fallen to its intra-morning low of 1,742.35.
Market breadth was negative with 521 losers and 137 gainers, while 222 counters traded unchanged. Volume was 586.36 million shares valued at RM517.36 million.
The top losers included Petronas Gas Bhd, Petronas Dagangan Bhd, Nestle (M) Bhd, Guinness Anchor Bhd, Hong Leong Bank Bhd, Sime Darby Bhd, P.I.E. Industrial Bhd, Metal Reclamation Bhd, Aeon Credit Services (M) Bhd, Press Metal Bhd, Pestech International Bhd and Tenaga Nasional Bhd.
Newly-listed EA Technique (M) Bhd was the most actively traded counter with 40.87 million shares done. The stock fell 15.38% or 10 sen to 55 sen.
The other actives included Minetech Resources Bhd, Perisai Petroleum Teknologi Bhd, Technodex Bhd, KNM Group Bhd, SapuraKencana Petroleum Bhd and Tiger Synergy Bhd.
The gainers included United Plantations Bhd, British American Tobacco (M) Bhd, Dutch Lady Milk Industries Bhd, MISC Bhd, DiGi.Com Bhd and Westports Holdings Bhd.
Regionally, Asian stocks fell on Thursday as falling oil prices continued to feed into global growth concerns, while the dollar struggled against peers such as the yen and euro after a further drop in U.S. bond yields, according to Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 percent as another large decline in oil prices took a heavy toll on energy shares and hit Wall Street hard overnight, it said.
BIMB Securities Research said in Asia, the situation was quite mixed on Wednesday as certain markets staged a rebound following some selling previously.
It said the FBM KLCI jumped 27.42 points to close at 1,765.52 having suffered from persistent foreign selling over the last few sessions.
“Although foreign selling is still prevalent, the amount is much manageable at RM68.3 million yesterday as local institutions began their accumulation on equities.
“We would expect the index to be under pressure today following the global selldown overnight with the immediate support seen at the 1,750 level,” it said.