KLCI slips as regional markets struggle

-A +A

KUALA LUMPUR (Sept 8): The FBM KLCI slipped at mid-morning today, in line with the weaker sentiment at most regional markets ahead of economic data from China.

At 10.01am, the FBM KLCI fell 2.32 points to 1,580.53.

The top losers included Globetronics Technology Bhd, QL Resources Bhd, PJ Development Holdings Bhd, Hong Leong Bank Bhd, Bursa Malaysia Bhd, Malaysia Airports Holdings Bhd, UMW Holdings Bhd, Harbour-Link Group Bhd, Cayha Mata Sarawak Bhd and Genting Bhd.

The top actively traded stocks included The Media Shoppe Bhd, Tiger Synergy Bhd, China Stationery Limited Bhd, IFCA MSC Bhd, Iris Corporation Bhd and AirAsia Bhd.

The top gainers included Kluang Rubber Company (Malaya) Bhd, Pestech International Bhd, Scientex Bhd, Kossan Rubber Industries Bhd, Mudajaya Group Bhd, Top Glove Corporation Bhd, YSP South East Asia Holdings Bhd, GD Express Carrier Bhd and KESM Industries Bhd.

Asian shares looked set to struggle on Tuesday to defend the three-year trough hit last month as investors sought more signs of stability in China's slowing economy and volatile financial markets, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan on Monday closed near the three-year low hit two weeks ago. In Japan, stock futures suggest Japan's Nikkei is likely to post slim gains, it said.

Hong Leong IB Research said due to lack of fresh catalyst, trading sentiment in Bursa Malaysia will remain wary and investors’ participation will stay weak in the midst of internal and external risks

“Key supports fall on 1550-1563 while resistances are 1600-1632,” it said.