KLCI slips on profit taking

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KUALA LUMPUR (Jan 9): The FBM KLCI dipped 1.58 points or 0.09% on profit taking following substantial gains earlier.

The KLCI settled at 1,726.48 points at 12.30pm on losses in stocks like Malayan Banking Bhd and Genting Bhd.

Earlier, the KLCI extended gains this morning after yesterday's 18.88-point or 1.1% rise.

Today, Bursa Malaysia saw 332 gainers compared to 326 decliners.

Top gainers included Dutch Lady Milk Industries Bhd and PPB Group Bhd. Decliners included Kuala Lumpur Kepong Bhd (KLK) and F&N Holdings Bhd.

IFCA MSC Bhd and Hubline Bhd were among the exchange's most actively traded entities.

The ringgit was traded at 3.5538 versus the US dollar. Against the Singapore dollar, the ringgit changed hands at 2.6603.

Across the region, Hong Kong's Hang Seng was up 1.03% while Japan's Nikkei 225 rose 0.2%

Reuters reported that Asian stocks gained on Friday on upbeat expectations for the closely-watched U.S. jobs data, while the euro continued to flirt with fresh nine-year lows against the dollar.

Equities worldwide suffered deep losses early this week as plunging oil prices and global growth woes triggered investor flight from risk assets.

But optimism about the U.S. economy and prospects of more stimulus from the European Central Bank and China have diffused risk aversion for the time being.