KLCI remains in negative zone, but above 1,800-point level

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KUALA LUMPUR (March 27): The FBM KLCI remained in negative zone at mid-morning today but stayed above the crucial 1,800-point level.

At 10.05am, the FBM KLCI shed 2.98 points to 1,815.44.

The top losers included British American Tobacco (M) Bhd, Danainfra Nasional Bhd, RHB Capital Bhd, Allianz Malaysia Bhd, Guiness Anchor Bhd, Nestle (M) Bhd, V.S Industry Bhd, Subur Tiasa Holdings Bhd, UMW Holdings Bhd and Latitude Tree Holdings Bhd.

The actively traded stocks included Ingenuity Solutions Bhd, Perisai Petroleum Teknologi Bhd, KNM Group Bhd, Jasa Kita Bhd, APFT Bhd, Privasia Technology Bhd, Sumatec Resources Bhd and Bumi Armada Bhd.

The top gainers included Petronas Gas Bhd, Super Holdings Bhd, Hong Leong Financial Group Bhd., DKSH Holdings Bhd, Dutch Lady Milk Industries Bhd, Sime Darby Bhd and LPI Capital Bhd.

Asian stocks crawled higher on Friday as upbeat U.S. economic data helped revive some risk appetite lost following air strikes on Houthi militants in Yemen, while the dollar rebounded, according to Reuters.

Crude oil prices were slightly lower on the dollar's bounce after surging overnight on the escalating conflict in Yemen, it said.

JF Apex Securities Research said US markets closed mildly lower following the war in Yemen and spike in oil price.

Similarly, it said European stocks were also lower following the geopolitical tension in the Middle East.

“On the local front, the FBM KLCI ended flat after shedding 0.68 points to 1818.42 points.

“Following the lackluster performance in the US, we expect the KLCI to remain sideways below the resistance of 1830 points,” it said.