KLCI stays shy of 1,800 as regional markets retreat

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KUALA LUMPUR (Oct 2): The FBM KLCI was hard pressed to find a firm footing in the morning session and remained below the crucial 1,800-point level at the midday break, as regional markets retreated.

At 12.30pm, the FBM KLCI edged up 2.36 points to 1,794.82.

Gainers led losers by 386 to 369, while 1,105 counters traded unchanged. Volume was 1.76 billion shares valued at RM923.23 million.

The gainers included Dutch Lady Milk Industries Bhd, United Plantations Bhd, Heineken Malaysia Bhd, SAM Engineering & Equipment (M) Bhd, Serba Dinamik Holdings Bhd, Hengyuan Refining Company Bhd, Petron Malaysia Refining & Marketing Bhd and Genting Bhd.

The actives included Sapura Energy Bhd, Velesto Energy Bhd, Perdana Petroleum Bhd, Hibiscus Petroleum Bhd, Reach Energy Bhd, Dagang NeXChange Bhd, Icon Offshore Bhd, Orion IXL Bhd and Nova MSC Bhd.

The losers included KESM Industries Bhd, Aeon Credit Service (M) Bhd, Carlsberg Brewery Malaysia Bhd, Hong Leong Financial Group Bhd, Ajinomoto (M) Bhd, Pos Malaysia Bhd and Hartalega Holdings Bhd.

Asian stocks fell on Tuesday as the lift from an agreement that saved the North American free trade deal faded, with cautious views on the global economy curbing risk sentiment, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 1% after a steady start, it said.

CIMB Retail Research said taking cue from the mixed performance across Asian markets, the local bourse ended the first trading day of the month on a flat tone.

"Nevertheless, the local energy sector came to life following the recent rise in oil prices.

"Today, both blue chips and lower liners stocks could potentially do well amid the overnight Wall Street rally as well as the continued jump in oil prices.

"We expect Bumi Armada Bhd to gain traction from the rising oil prices. Resistance: 1,810 & 1,822. Supports: 1,785 & 1,777," it said.