Thursday 28 Mar 2024
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KUALA LUMPUR (Jan 20): The FBM KLCI remained in the red at mid-morning today in line with the sluggish regional markets.

At 10am, the FBM KLCI fell 5.209 points to 1,624.02.

The top losers included Petronas Chemicals Group Bhd, Shangri-La Hotels (Malaysia) Bhd, Kossan Rubber Industries Bhd, Lay Hong Bhd, Genting Plantations Bhd, KESM Industries Bhd, Hong Leong Financial Group Bhd and Kuala Lumpur Kepong Bhd.

The actives included Nexgram Holdings Bhd, IFCA MSC Bhd, Cybertowers Bhd, Borneo Oil Bhd, EKA Noodles Bhd and The Media Shoppe Bhd.

The top gainers included Guiness Anchor Bhd, Huat Lai resources Bhd, Petron Malaysia Refining & Marketing Bhd, Ta Ann Holdings Bhd, Danainfra Nasional Bhd, Scientex Bhd and Asia File Corporation Bhd.

Asian share markets slipped early Wednesday as a relentless slide in oil prices wiped out an attempted rally on Wall Street and dealt a fresh blow to risk appetite, according to Reuters.

U.S. crude wallowed at its lowest since 2003 after the world's energy watchdog warned the market could "drown in oversupply". U.S. crude futures shed another 49 cents to a new trough at $27.97 in early trade, while Brent crude was quoted at $28.76 a barrel, it said.

Hong Leong IB Research said despite near term external volatilities, it remains cautiously optimistic of 1600 psychological support.

“A decisive breakout above 1642-1652 resistances will witness another uptrend towards 1700 again.

“ ​Nevertheless, failure to defend 1600 will witness further slide towards 1550-1568 (7 Sep low) zones and reversed our short term cautious optimism tone,” it said.

 

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