KLCI stays in the red amidst choppy trade

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KUALA LUMPUR (Nov 6): The FBM KLCI remained in the red at mid-morning today amidst some choppy trading, in line with the slip at most regional markets.

At 10.03am, the FBM KLCI was down 0.37 points to 1.688.17.

The top losers included Kuala Lumpur Kepong Bhd, Time Dotcom Bhd, KKB Engineering Bhd, IJM Plantations Bhd, Genting Plantations Bhd, DKSH (M) Holdings Bhd, WZ Satu Bhd, Globetronics Technology Bhd, Tan Chong Motor Holdings Bhd and Hap Seng Consolidated Bhd.

The actively traded stocks included Ho Wah Genting Bhd, RHB International Bhd, Sumatec Resources Bhd, Pesona Metro Holdings Bhd, Sanici Tecghnologies Bhd, Naim Indah Corporation Bhd and JAG Bhd.

The top gainers included United Plantations Bhd, Kulim (M) Bhd, British American Tobacco (M) Bhd, Asia File Corpoiration  Bhd, Nestle (M) Bhd, Pestech International Bhd and MISC Bhd.

Asian shares slipped on Friday, ahead of key U.S. employment data later in the session that was expected to add to the case for a Federal Reserve interest rate hike as early as next month, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan edged down about 0.1 percent, though it remained on track for a 1 percent weekly rise, it said.

Hong Leong IB Research said it continues to look for a tad more strength in the immediate term to 1700-1727 zones as long as teh FBM KLCI is able to close above 1675 (30-d SMA and 23.6% FR).

“Moreover, expectations that Valuecap will start to invest into the equity market in late Nov or early Dec coupled with favourable seasonal Nov/Dec performance due to window dressing activities will further support sentiment.

“Key supports are 16663-1675,” it said.