Friday 29 Mar 2024
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KUALA LUMPUR (Nov 6): The FBM KLCI reversed its earlier losses and notched up modest gains at the midday break today, lifted by select blue chips.

At 12.30pm, the FBM KLCI added 2.05 points to 1,690.59. The index had earlier slipped to its intra-morning low of 1,685.08.

Gainers outpaced losers by 390 to 324, while 341 counters traded unchanged. Volume was 1.21 billion shares, valued at RM871.85 million.

The top gainers included United Plantations Bhd, Kulim (M) Bhd, British American Tobacco (M) Bhd, Petronas Dagangan Bhd, Asia File Corporation Bhd, My E.G Services Bhd, Nestle (M) Bhd, Pestech International Bhd and Lafarge Malaysia Bhd.

The actively-traded stocks included Ho Wah Genting Bhd, RGB International Bhd, Pesona Metro Holdings Bhd, Sumatec Resources Bhd, APFT Bhd and Sanichi Technologies Bhd.

The top decliners included Tasek Corporation Bhd, Time Dotcom Bhd, KKB Engineering Bhd, Carlsberg Brewery (M) Holdings Bhd, Southern Steel Bhd and WZ Satu Bhd.

Asian shares slipped on Friday, as investors braced for U.S. employment data that is expected to bolster the case for a Federal Reserve interest rate increase as early as next month, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan edged down about 0.36% at 0310 GMT, though it remained on track for a 0.7% weekly rise, it said.

BIMB Securities Research said key regional indices ended mixed with sharp gains in China yesterday, as the Chinese authorities would roll out a new trading link to further open up their market to foreign investors, while Japan were boosted by stronger corporate earnings.

Meanwhile, it said other regional markets closed lower on profit takings.

“Back home, the FBM KLCI ended flattish, gained 2.92 points or 0.17% to 1,688.54, lifted mainly by banking stocks.

“Trading participation saw net buying by foreign institutions, while local institutions and retail were net sellers.

“We expect the local market to remain sideways due to lack of fresh catalysts, with the index hovering around 1,690-1,695,” it said.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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