Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (Nov 25): The FBM KLCI remained below the 1,600-point level at mid-morning today, weighed by select blue chips.

At 10am, the FBM KLCI fell 2.84 points to 1,594.

Losers led gainers by 302 to 241, while 307 counters traded unchanged. Volume was 775.35 million shares valued at RM306.42 million.

The decliners included Heineken Malaysia Bhd, Berjaya Corp Bhd, Dayang Enterprise Holdings Bhd and Malaysia-listed Hang Seng Index-linked put warrants.

The actives included Eduspec Holdings Bhd, Bumi Armada Bhd, Ekovest Bhd, EA Holdings Bhd, Sapura Energy Bhd and DGB Asia Bhd.

The gainers included Chin Teck Plantations Bhd, Master-Pack Group Bhd, British American Tobacco (M) Bhd, United Plantations Bhd, MBM Resources Bhd, IGB Bhd and MISC Bhd.

Asian shares made guarded gains on Monday as investors braced for another week of likely conflicting commentary on the Sino-US trade dispute, while the outperformance of recent US economic data gave the US dollar a leg up on its peers, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan bounced 0.26%, after losing 0.4% last week, it said.

HLIB Research said that in the US, market participants certainly are waiting for the results of a phase one mini trade deal. If trade negotiators cannot come to an agreement before Dec 15, a new set of tariffs may kick in in mid-December.

"This may put pressure on the Dow, limiting the upside potential on the Dow (which is having stiff resistance along 28,000-28,200 for the time being.

"With the positive tone on Wall Street and statements from President Trump, we believe buying interest may emerge on the local front.

"In addition, the crude palm oil prices may sustain the trading interest amongst plantation heavyweights, contributing towards further rebound in FBM KLCI. Trading range of the KLCI will be located around 1,580-1,620," it said.

      Print
      Text Size
      Share