Friday 19 Apr 2024
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KUALA LUMPUR (Jan 26): The FBM KLCI slipped below the 1,800 level at mid-morning on Monday in line with the edgey sentimnent at most global markets.

At 10am, the FBM KLCI shed 3.62 points to 1,799.46.

The top losers included Hong Leong Bank Bhd, Amway (M) Holdings Bhd, Petronas Chemicals Group Bhd, Uzma Bhd, RHB Capital Bhd, Public Bank Bhd, Guiness Anchor Bhd, CIMB Group Holdings Bdh and Dayang Enterprise Holdings Bhd.

The actives included Dagang Nexchange Bhd, Systech Bhd, KNM Group Bhd, Privasia Technologies Bhd, Daya Matarials Bhd, Hubline Bhd and Sumatec Resources Bhd.

The gainers included Kuala Lumpur Kepong Bhd, VS Industry Bhd, Prestariang Bhd, Malaysian Pacific Industries Bhd, IHH Healthcare Bhd, Kossan Rubber Industries Bhd, United Plantations Bhd, Tambun Indah Land Bhd and Lafarge Malaysia Bhd.

At the global markets, the euro skidded to near an 11-year low and U.S. stock futures fell on Monday as Greece's Syriza party promised to roll back austerity measures after sweeping to victory in a snap election, putting Athens on a collision course with international lenders,according to Reuters.

The euro fell to as low as $1.1135 on the vote outcome, not far off an 11-year low of $1.1115 touched on Friday when the common currency took a battering after the European Central Bank unveiled a bond-buying stimulus programme last week, it said.

U.S. stock futures fell 0.6 percent while the Nikkei futures also dropped about 0.5 percent from the local close on Friday on heightened concerns the Greek election results could lead to renewed instability in Europe, said Reuters.

BIMB Securities Research said regional equities ended mostly higher last Friday on earlier trading as Hong Kong and Shanghai stocks extend a four-day winning streak, as the ECB’s latest easing moves and better-than-expected Chinese PMI boost investor sentiment.

Locally, it said the FBM KLCI ended sharply higher, gaining 21.33 points or 1.20% to 1,803.08 with strong buying on O&G and power stocks.

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

“We expect some profit taking activities today following 2 days of strong rally with immediate support at 1,790/80,” it said.

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