Thursday 28 Mar 2024
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KUALA LUMPUR (Sept 27): The FBM KLCI slipped back to below the 1,800-point level at midday break today, as sellers overtook buyers at the local bourse.

At 12.30pm, the FBM KLCI was down 0.53 points to 1,798.19. The index had earlier risen to a high of 1,803.71.

Losers led gainers by 448 to 287, while 1,169 counters traded unchanged. Volume was 1,16 billion shares, valued at RM827.44 million.

Top losers included Nestle (M) Bhd, Chin Teck Plantations Bhd, Tasek Corp Bhd, Hong Leong Financial Group Bhd, Hai-O Enterprise Bhd, United Malacca Bhd, Astro Malaysia Holdings Bhd, Allianz Malaysia Bhd, MSM Malaysia Holdings Bhd and Axiata Group Bhd.

Top actives included Sapura Energy Bhd, Hibiscus Petroleum Bhd, Scomi Group Bhd, Pesona Metro Holdings Bhd, My EG Services Bhd and Frontken Corp Bhd.

Gainers included British American Tobacco (M) Bhd, Aeon Credit Service (M) Bhd, ViTrox Corp Bhd, Carlsberg Brewery Malaysia Bhd, Panasonic Manufacturing Malaysia Bhd, United Plantations Bhd, Gamuda Bhd, Tenaga Nasional Bhd and Top Glove Corp Bhd.

Asian shares held firm on Thursday, outperforming sagging Wall Street shares, and U.S. bond yields fell after the Federal Reserve raised interest rates as expected, sticking to its script of gradual policy tightening, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3%, with South Korea's Kospi hitting three-month highs, Reuters said.

Affin Hwang Capital Research said the FBM KLCI Index gained 4.25 points in the last session.

“Performance lifted due to buying in heavy weight counters, led by Axiata. Prices remain supported above the 50% Fib level, acting as a support area.

“The FBM KLCI Index may experience normal consolidation in the near-term,” the research house said.  

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