KLCI remains lacklustre as select blue chips weigh

KLCI remains lacklustre as select blue chips weigh

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KUALA LUMPUR (April 25): The FBM KLCI remained lacklustre at mid-morning today in line with the weaker regional markets, weighed by select blue chips.

At 10am, the FBM KLCI fell 3.12 points to 1,714.84.

The top losers included Panasonic Manufacturing Malaysia Bhd, Kuala Lumpur Kepong Bhd, Genting Bhd, Malaysia Airports Holdings Bhd, PPB Group Bhd, CIMB Group Holdings Bhd, Bursa Malaysia Bhd, Petron Malaysia Refining & Marketing Bhd, MISC Bhd, UMW Holdings Bhd and AirAsia Bhd.

The actives included Vivocom Intl Holdings Bhd, AWC Holdings Bhd, AirAsia Bhd, Bumi Armada Bhd, KNM Group Bhd and Kim Teck Cheong Bhd.

The top gainers included British American Tobacco (Malaysia) Bhd, Dutch Lady Milk Industries Bhd, Hong Leong Financial Group Bhd, Asia File Corporation Bhd, TIME dotCom Bhd, MNRB Holdings Bhd, Pharmaniaga Holdings Bhd and QL Resources Bhd.

Asian shares and the dollar edged lower on Monday as investors awaited central bank meetings in the United States and Japan this week that are expected to hold clues to future policy moves, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2% in early trading, taking its cue from a mixed day on Wall Street on Friday, it said.

Hong Leong IB Research said that in the coming week ahead, it expects the trend of the FBM KLCI to remain quiet and choppy towards our weekly projected trading range of between 1,700 and 1,727 ahead of the Federal Open Market Committee meeting on April 26–27 and narrowing Bollinger band which suggests that ranges are small and there is low volatility in the local market.

"As global markets are entering into May, market investors may stay cautious over the old saying 'sell in May and go away' adage," it said.