KLCI stays in negative zone as sentiment remains bearish

-A +A

KUALA LUMPUR (Dec 5); The FBM KLCI remained in negative teritory at mid-morning on Friday as local sentiment remained bearish despite the uptrend at most regional markets.

At 10.01am, the FBM KLCI shed 0.82 points to 1,744.87.

The top losers included British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, LPI Capital Bhd, Boustead Holdings Bhd, MISC Bhd, APM Automotive Bhd, Hong Leong Financial Group Bhd and Dutch Lady Milk Industries Bhd.

Sumatec Resources Bhd was the most actively traded counter with 20.08 million shares done. The stock fell 2.17% or half a sen to 22.5 sen.

The other actives included Technodex Bhd, Dialog Group Bhd, Malaysian Airline System Bhd, Tiger Synergy Bhd, Perisai Petroleum Teknologi Bhd and Ni Hsin Resources Bhd.

The top gainers included Petronas Dagangan Bhd, Faber Group Bhd, Syarikat Takaful Malaysia Bhd, Malayan Banking Bhd, Public Bank Bhd and Genting Plantations Bhd.

Regionally, Asian shares edged higher in early trade on Friday, while the dollar marked time ahead of the key U.S. jobs report later in the session that could help it retake ground lost to the euro overnight, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was up about 0.1 percent, but on track for a weekly loss of 0.7 percent. Japan's Nikkei stock average slipped 0.4 percent, but was on track for a weekly gain of around 2 percent, it said.

Hong Long IB Research said pressures are mounting for the FBM KLCI to retest 1715-1732 supports amid lack of domestic catalysts and potential more force selling and margin calls in the coming days.

“Immediate tough resistances are 1758-1778,” it said.