KUALA LUMPUR (Sept 30): The FBM KLCI remained lacklustre as regional markets traded little changed.
At 12.30pm, the FBM KLCI shed 0.11 points to 1,584.03. The index had earlier risen to a high of 1,586.69.
Losers led gainers by 338 to 177, while 499 counters traded unchanged. Volume was 943.97 million shares valued at RM506.3 million.
The top losers included Concrete Engineering Products Bhd, Kuala Lumpur Kepong Bhd, PPB Group Bhd, Syarikat Takaful Malaysia Keluarga Bhd, Fraser & Neave Holdings Bhd, Mulpha International Bhd, UMW Holdings and Cycle & Carriage Bintang Bhd.
The actives included Bumi Armada Bhd, Eduspec Holdings Bhd, Sapura Energy Bhd, MNC Wireless Bhd, Ekovest Bhd and Green Packet Bhd.
The gainers included Heineken Malaysia Bhd, British American Tobacco (M) Bhd, Ajinomoto (M) Bhd, Aeon Credit Service (M) Bhd, Petronas Dagangan Bhd, Hong Leong Industries Bhd, Hong Leong Financial Group Bhd, Gamuda Bhd and Spritzer Bhd.
Asian stock markets, including China's, were little changed on Monday, shrugging off news that the US administration is considering delisting Chinese companies from US stock exchanges, according to Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.05% while China's Shanghai stock index slipped 0.2%, barely responding to any of the concerns around the latest Sino-US tensions that caused the Nasdaq index to fall more than 1% on Friday, it said.
Affin Hwang Capital Research said the FBM KLCI Index ended last week on a sour note, dropping 8.86 points or 0.56% on Friday, closing at 1,593.
"Technically, observing the weekly and daily chart, the index continues to remain well below all of the key EMAs (exponential moving averages) — downward move remains intact.
"Price is also beginning to form lower lows on the weekly timeframe, indicating early signs of a resumption on its prevailing downward trend. Sentiments are still bearish with market remaining weak and lethargic as investors' confidence are still lacking.
"Overall, anticipate the index to consolidate with slight downward bias.
"Anticipate the index to trade sideways within a tight range," it said.