KUALA LUMPUR (July 15): The FBM KLCI shed 0.11% at the midday break today, dragged by losses including at Hartalega Holdings Bhd.
At 12.30pm, the FBM KLCI was down 1.77 points to 1,667.68.
Losers edged gainers by 292 to 246, while 561 counters traded unchanged. Volume was 1.78 billion shares valued at RM717.97 million.
The losers included KESM Industries Bhd, Panasonic Manufacturing Malaysia Bhd, United Plantations Bhd, Carlsberg Brewery Malaysia Bhd, Fraser & Neave Holdings Bhd, Petronas Dagangan Bhd, Hartalega, Telekom Malaysia Bhd, Dutch Lady Milk Industries Bhd and PLB Engineering Bhd.
The actives included NetX Holdings Bhd, Bumi Armada Bhd, KNM Group Bhd, Sumatec Resources Bhd and Excel Force MSC Bhd.
The gainers included British American Tobacco (M) Bhd, G3 Global Bhd, Malaysian Pacific Industries Bhd, Paramount Corp Bhd, Dialog Group Bhd, Southern Steel Bhd, Genting Malaysia Bhd and KSL Holdings Bhd.
Asian shares advanced on Monday as investors breathed a sigh of relief after encouraging Chinese data suggested the world's second-biggest economy may be starting to stabilise thanks to ramped-up stimulus from Beijing, according to Reuters.
Second quarter economic growth slowed to 6.2% from a year earlier, the weakest pace in at least 27 years while separate data showed the country's industrial output and retail sales handily topped forecasts, it said.
Affin Hwang Capital Research said the FBM KLCI Index ended last week on a sour note, falling 9.81 points or 0.58% on Friday. The index closed at 1,669.45.
"Last week recap: Market performance was quite muted the first four days of the week as the index traded sideways, hovering around the 200-day EMA (exponential moving average).
"However, on the last day of the week, we can see that bears are beginning to take control as sellers push prices about 10 points lower.
"Nonetheless, this week, we anticipate market as a whole to rebound following the strong US market performance. Anticipate the index to move sideways with slight upward bias," it said.