Friday 29 Mar 2024
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KUALA LUMPUR (Sept 1): The FBM KLCI reversed its gains and fell at mid-morning in line with the retreat at most regional markets.

At 10.01am, the FBM KLCI fell 4.95 points to 1,673.11. The index had earlier risen to a high of 1,682.35.

The top losers included Time Dotcom Bhd, Kossan Rubber Industries Bhd, Huat Lai Resources Bhd, Success Transformer Corporation Bhd, Perak Corporation Bhd, Negri Sembilan Oil Palms Bhd, Kuala Lumpur Kepong Bhd and Hong Leong Industries Bhd.

The actives included NetX Holdings Bhd, XOX Bhd, EKA Noodles Bhd, Vivocom Intl Holdings Bhd, AirAsia X Bhd and Felda Global Ventures Holdings Bhd.

The gainers included Nestle (M) Bhd, British American Tobacco (M) Bhd, KESM Industries Bhd, YNH Property Bhd, Fraser & Neave Holdings Bhd, Batu Kawan Bhd, Dutch Lady Milk Industries Bhd, Syarikat Takaful Malaysia Bhd.

Manufacturing conditions in Malaysia deteriorated at a sharper pace in August, after having slowed in July, according to the latest Nikkei Malaysia Manufacturing Purchasing Managers’ Index (PMI).

Meanwhile, Asian shares dipped on Thursday after lower crude oil prices dented Wall Street, as markets waited to see if US employment data could put the Federal Reserve on track to hike interest rates, according to Reuters.

Crude oil futures steadied after skidding on data showing a large surprise weekly build in US crude and distillate stockpiles and a smaller-than-expected drawdown in gasoline, it said.

Hong Leong IB Research said the FBM KLCI may ease further amid overnight drop in Dow as well as fear of further weakening of ringgit due to falling oil prices and potential outflow concern as investors bet for greater probability of a second Fed rate hike in September.

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