Friday 29 Mar 2024
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KUALA LUMPUR (Dec 2): The FBM KLCI pared some of its losses at the midday break today but remained wary in line with most regional markets.

At 12.30pm, the FBM KLCI was down 1.08 points at 1,681.29. The index had earlier dipped to its intra-morning low of 1,678.27.

Gainers led losers by 382 to 337, while 320 counters traded unchanged. Volume was 975.78 million shares valued at RM834.68 million.

The top decliners included Maxis Bhd, Lafarge Malaysia Bhd, Pestech International Bhd, Kuala Lumpur Kepong Bhd, Hong Leong Financial Group Bhd, Hong Leong Bank Bhd and IJM Corporation Bhd.

The actives included Genetec Technology Bhd, XOX Bhd, Instacom Group Bhd, China Stationery Ltd, Iris Corporation Bhd, Wintoni Group Bhd and Kim Teck Cheong Consolidated Bhd.

The gainers included Panasonic Manufacturing Malaysia Bhd, Top Glove Corporation Bhd, Carlsberg Brewery (M) Holdings Bhd, Ajiya Bhd, Tasco Bhd, RHB Capital Bhd, Scientex Bhd, Guinness Anchor Bhd and UMW Holdings Bhd.

Asian stock markets wavered on Wednesday after downbeat US manufacturing data raised questions about how aggressive the Federal Reserve would be when hiking interest rates, while the dollar retreated from 8½-month highs, according to Reuters.

Data on Tuesday showed that the US manufacturing sector contracted last month to its weakest level since June 2009, though construction spending rose in October to the highest level since December 2007, it said.

BIMB Securities Research said key regional markets ended mostly positive yesterday following the inclusion of the yuan to the special drawing rights basket.

The research house said that in line with regional market, the FBM KLCI closed 10.21 points or 0.61% higher at 1,682.37 yesterday.

"Trading participation saw net selling by local institutions and local retail, while local institutions were net buyers.

"The local market may remain in positive momentum and expect the index to experience strong support at 1,675," it said.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

 

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