Friday 29 Mar 2024
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KUALA LUMPUR (May 22): The FBM KLCI fell below the 1,800-point level at mid-morning, weighed by losses including at Tenaga Nasional Bhd and Genting Bhd.

At 10am, the FBM KLCI fell 2.68 points to 1.792.36

Teh top decliners included Tenaga Nasional Bhd, Sam Engineering Bhd, Latitude Tree Holdings Bhd, IQ Group Bhd, Oriental Food Industries Bhd, C.I Holdings Bhd, Genting Bhd, Syarikat Takaful Malaysia Bhd, Uzma Bhd and Carlsberg Brewery (M) Holdings Bhd.

The actives included Frontken Corporation Bhd, AirAsia X Bhd, IFCA MSC Bhd, Kanger International Bhd, DiGi.Com Bhd and Dialog Group Bhd.

The gainers included Nestle (M) Bhd, United Plantations Bhd, Petron Malaysia Refining & Marketing Bhd, Kuala Lumpur Kepong Bhd, Hong Leong Financial Group Bhd, Microlink Solutions Bhd and Petronas Gas Bhd.

Asian shares rose early on Friday after Wall Street set another record high with prospects for a Federal Reserve rate hike in June all but quashed, while the dollar steadied after losing ground to the euro for the first time this week on downbeat U.S. data, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent with South Korean and Australian shares edging higher, it said.

Hong Leong IB Research said that technically, after falling below key supports of 100-d and 200-d SMAs coupled with the 1800 psychological levels yesterday, near term FBM KLCI outlook had turned negative, as technical oscillators had started to hook down.

“For a resumption of uptrend, the FBM KLCI must swiftly recapture the 200-d SMA level. Key supports now are 1770-1790,” it said.

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