Thursday 28 Mar 2024
By
main news image

KUALA LUMPUR (July 27): The FBM KLCI stayed lacklustre at mid-morning as investors remained cautious in line with the regional sentiment.

At 10.01am, the FBM KLCI was up 0.52 points to 1,661.94.

The gainers included Nestle (M) Bhd, Panasonic Malaysia Manufacturing Bhd, Aeon Credit Services (M) Bhd, Petronas Dagangan Bhd, Genting Bhd, Ajinomoto (Malaysia) Bhd, Hong Leong Bank Bhd and KESM Industries Bhd.

The actives included TH Heavy Industries Bhd, Borneo Oil Bhd, Sanichi Technology Bhd, Iris Corporation Bhd, Asia Media Group Bhd, AirAsia X Bhd and Perisai Petroleum Teknologi Bhd.

The decliners included British American Tobacco (M) Bhd, Globetronics Technology Bhd, Lafarge Malaysia Bhd, Unisem (M) Bhd, Fraser & Neave Holdings Bhd and SP Setia Bhd.

Asian stocks edged up early on Wednesday following a relatively upbeat session overnight for U.S. and European stocks, with caution ahead of the Federal Reserve's policy decision capping gains, according to Reuters.

The safe-haven yen sat atop large gains as hopes for a large fiscal stimulus package out of Japan faded, it said.

Hong Leong IB Research said the FBM KLCI may still trend sideways in the near term, pending policy meetings outcome from the FOMC and BOJ.

“Meanwhile, nagging concerns from the 1MDB saga coupled with expectations of another lackluster Aug reporting season will continue to dampen sentiment.

:Despite the negatives, optimism of better-than-than expected US economic data and results, hopes of more stimulus measures by Malaysian government as well as policy easing by BNM to stimulate slowing economy, we remain hopeful that the FBM KLCI is able to defend the 1630-1640 supports in the short term,” it said.

      Print
      Text Size
      Share