KLCI reverses loss, advances at break

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KUALA LUMPUR (Sept 29): The FBM KLCI reversed its earlir losses at advanced at the midday break on Monday, lifted by select blue chips including Genting.

At 12.30pm, the FBM KLCI added 2.33 points to 1,842,83.

Losers overtook gainers by 343 to 335, while 363 counters traded unchanged. Volume was 1.47 billion shares valued at RM773.07 million.

The top gainers included Press Metal, Lafarge Malaysia, Aeon Credit, IQ Group, HLFG, Tasek, Tecnic, Scientex, Genting, Tasco and Sasbadi.

Berjaya Corp was the most actively traded counter with 123.32 million shares done. The stock added 1.75% or one sen to 58 sen.

The other actives included PDZ, Focus, Takaso, Daya Materials, Asia Bio, MUI Insustries and Reach Energy.

The top losers included Bat, United Plantations, Teck Guan, Carlsberg, KLK, APM Automotive, UMW, Timecom, LTKM and Nestle.

Regionally, the dollar hit a four-year peak against a basket of currencies in early Asian trade on Monday, bolstering Japanese shares, but other Asian shares shrugged off Friday's Wall Street rebound in the face of political unrest in Hong Kong, according to Reuters.

Hong Kong shares dropped 2.3 percent to three-month lows in the worst unrest since China took back control of the former British colony two decades ago, it said.

JF Apex Securities said the FBM KLCI lost 2.61 points to 1840.50 points. Last Friday.

“Following the bullish performance in US markets, we expect the FBM KLCI to be buoyed above its immediate support level of 1835 points and head for its resistance of 1850 points,” it said.