KLCI slumps 0.93% in line with regional retreat

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KUALA LUMPUR (Dec 10): The FBM KLCI slumped 0.93% at the midday break today, tracking the regional retreat as investor sentiment took a beating across the region.

At 12.30pm, the FBM KLCI fell 15.59 points to 1,664.95.

Losers led gainers by 549 to 131, while 281 counters traded unchanged. Volume was 1.39 billion shares valued at RM586.34 million.

The top losers included Fraser & Neave Holdings Bhd, British American Tobacco (M) Bhd, Carlsberg Brewery Malaysia Bhd, Ajinomoto (M) Bhd, Hong Leong Financial Group Bhd, Top Glove Corp Bhd, Kuala Lumpur Kepong Bhd, Sime Darby Plantation Bhd, KESM Industries Bhd, Batu Kawan Bhd, Genting Bhd, Malaysia Airports Holdings Bhd and Tenaga Nasional Bhd.

The actives included Sanichi Technology Bhd, Hubline Bhd, Sumatec Resources Bhd, Permaju Industries Bhd, Prestariang Bhd, Hibiscus Petroleum Bhd, My EG Services Bhd and Top Glove.

The gainers included Nestle (M) Bhd, Petronas Dagangan Bhd, Hong Leong Industries Bhd, Tong Herr Resources Bhd, LTKM Bhd and LPI Capital Bhd.

Global stocks extended their slump on Monday, with US equity futures and Asian shares sliding on worries over slowing growth and fears that a fresh flare-up in tensions between Washington and Beijing could quash any chances of a trade deal, according to Reuters.

Traders returned from the weekend to face a growing wall of worry, with the world's largest economies — the United States, China and Japan — all reporting weaker-than-expected data which point to moderating activity, it said.

Affin Hwang Capital Research said the FBM KLCI Index fell slightly (down 2.8 points or 0.17%) to end last week at 1,680.54.

"Investors remained on edge following latest news on the arrest of Huawei's CFO, keeping trade outlook uncertain.

"The unstable and souring sentiments in the US may potentially bog down performance in the local index in the near term as our market remains sensitive to any negative headlines arising stateside.

"Anticipate FBM KLCI Index to congest sideways with upward bias," the research house said.