Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (Oct 30): The FBM KLCI remained lacklustre at the midday break today despite managing to reverse its losses.

At 12.30pm, the FBM KLCI was up 1.44 points to 1,668.42. The index had earlier fallen to its intra-morning low of 1,663.76.

Losers overtook gainers by 354 to 349, while 336 counters traded unchanged. Volume was 1.07 billion shares valued at RM787.94 million.

The top gainers included Asia File Corporation Bhd, Teck Guan Perdana Bhd, British American Tobacco (M) Bhd, Can-One Bhd, Guinness Anchor Bhd, Genting Bhd, Bursa Malaysia Bhd, Chin Teck Plantations Bhd, Top Glove Corporation Bhd, Johore Tin Bhd, Hong Leong Industries Bhd and Unisem (M) Bhd.

The actives included RGB International Bhd, XOX Bhd, Inix Technologies Holdings Bhd, APFT Bhd, iDimension Consolidated Bhd, Tiger Synergy Bhd, ES Ceramics Technology Bhd, Genetec Technology Bhd and Instacom Group Bhd.

The top losers included Sarawak Oil Palms Bhd, Asdion Bhd, Genting Plantations Bhd, Malaysia Airports Holdings Bhd, Caring Pharmacy Group Bhd, SAM Engineering & Equipment Bhd and Kuala Lumpur Kepong Bhd.

Asian shares edged up on Friday, on track for their biggest monthly rise since January 2012 but headed for weekly losses as investors fretted about the possibility United States interest rates could still rise this year, according to Reuters.

Japanese shares slipped briefly and then regained their composure, while the yen rose after the Bank of Japan held policy steady, it said.

BIMB Securities Research said regional indexes finished mixed yesterday tracking an uninspiring handover from offshore markets.

Back home, it said the FBM KLCI closed lower in a four-day losing streak, ended 19.53 points or 1.2% lower to 1,666.98 dragged down by banking counters.

"Trading participation saw net selling by foreign [investors] despite of lower participation of 24%.

"The local market will remain bearish in the short term due to poor investor sentiment coupled with continuous selling by foreign institutions and expect the index to experience strong support at 1,650," it said.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

 

      Print
      Text Size
      Share