KLCI remains in the red in line with jittery regional markets

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KUALA LUMPUR (Dec 9): The FBM KLCI remained in negative territory at mid-morning today in line with the jittery regional markets.

At 10.01am, the FBM KLCI fell 3.61 points to 1,665.63.

The top losers included Dutch Lady Milk Industries Bhd, British American Tobacco (M) Bhd, Keck Seng (Malaysia) Bhd, Hong Leong Bank Bhd, Hap Seng Consolidated Bhd, Apollo Food Holdings Bhd, Ajiya Bhd and Guiness Anchor Bhd.

The actives included Instacom Group Bhd, XOX Bhd, RGB International Bhd, China Stationery Ltd Bhd, Borneo Oil Bhd and EA Holdings Bhd.

The top gainetrs included Magni-Tech Industries Bhd, Teck Guan Perdana Bhd, Petronas Gas Bhd, Iskandar Waterfront City Bhd, Scientex Bhd and Asia File Corporation Bhd.

Asian stock markets risked slipping to two-month lows on Wednesday as crumbling oil prices took a toll on energy and resource shares, with cooling demand from China putting more pressure on resources-reliant economies, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was flat but stood barely above its November trough, a break of which would take it to its lowest level since early October, it said.

Hong Leong IB Research said it still expects the local bourse to trade range-bound within 1650-1690 territories as overall sentiment will remain cautious amid sliding oil prices and ahead of the upcoming FOMC meeting on 15-16 Dec.

“Weekly resistances are 1677-1690 while supports fall on 1644-1650,” it said.