Thursday 28 Mar 2024
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KUALA LUMPUR (Sept 2): The FBM KLCI stayed in the red today on further profit-taking against the backdrop of mixed regional markets. 

The benchmark index closed 4.7 points or 0.3% lower at 1,582.19. 

Rakuten Trade head of equity sales Vincent Lau said the KLCI is currently in a consolidation mode and trading activity in the local bourse remained healthy. 

“Volume is still healthy. For the past few days we have witnessed trading volume surpassing four billion levels. 

“Selected plantation stocks, including Kuala Lumpur Kepong Bhd (KLK) and Sime Darby Plantation Bhd, pulled the benchmark index lower today, possibly due to profit-taking activities,” he told The Edge

KLK closed 14 sen or 0.66% lower at RM21.16 while Sime Darby Plantation fell 11 sen or 2.68% to RM4. 

Areca Capital Sdn Bhd CEO Danny Wong said it is healthy for the local index to pause after a good run recently.

“We expect foreign inflow to continue as the perceived political uncertainty has subsided, and amid the higher rate of full vaccination currently,” he added. 

On the broader market, losers outnumbered gainers 574 to 434, while 464 counters ended unchanged. 

A total of 4.05 billion shares worth RM2.76 billion were traded, a decline from 4.89 billion shares worth RM3.38 billion yesterday.

Top losers of the day included Genetec Technology Bhd (down 94 sen or 3.09% to RM29.48), Malaysian Pacific Industries Bhd (down 92 sen or 2.04% to RM44.08) and Dutch Lady Milk Industries Bhd (down 38 sen or 1.09% to RM34.62).

Leading gainers were Nestle (Malaysia) Bhd (up 40 sen or 0.30% to RM135.50), Hong Leong Bank Bhd (up 24 sen or 1.27% to RM19.16) and Fraser & Neave Holdings Bhd (up 20 sen or 0.72% to RM27.86).

Ho Wah Genting Bhd, which saw 105.4 million shares traded, was the most actively traded stock.

On the regional front, South Korean stocks finished lower, ending a four-day rally, as investors awaited key US jobs data for clues on when the Federal Reserve might start reducing its pandemic-era stimulus, Reuters reported. The KOSPI indicator closed 31.17 points or 0.97% lower at 3,175.85 

In China, Shanghai’s benchmark index ended higher and blue-chips closed unchanged, as investors hoped soft economic data could lead Beijing to roll out further support measures. The Shanghai Composite Index rose 29.94 points or 0.84% to 3,597.04. 

Edited ByS Kanagaraju
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