KLCI stays in the red in light trade

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KUALA LUMPUR (Dec 26): The FBM KLCI dipped at mid-morning on Friday amidst light trading following the one-day Christmas break yestderday.

Market sentiment remain muted as several regional markets stayed closed, offering little or no fresh catalysts to local investors.

At 10am, the FBM KLCI shed 0.08 points to 1,749.38.

The top losers included Kuala Lumpur Kepong Bhd, PPB Group Bhd, Berjaya Food Bhd, Genting Plantations Bhd, Tan Chong Motor Holdings Bhd, Tasek Corporation Bhd, Guiness Anchor Bhd and Petronas Chemicals Group Bhd.

The actives included Hubline Bhd, Icon Offshore Bhd, Kronologi Asia Bhd, Tiger Synergy Bhd and Pasukhas Group Bhd.

The gainers included United Plantations Bhd, British American Tobacco (M) Bhd, Aeon Credit Services (M) Bhd, Ibraco Bhd, Petronas Dagangan Bhd and Ta Ann Holdings Bhd.

JA Apex Securities Research said U.S. stocks ended near unchanged on Wednesday, with the Dow furthering its record climb, a day after its first trip above 18,000.

It said European shares finished mixed on Wednesday with reports of an acquisition in the pharmaceutical sector helping the FTSE 100 to post slim gains.

“The FBM KLCI ended flat on Wednesday at 1749.74 points.

“We expect the local bourse to be flattish today on the back of lackluster trade with the release of Japan November industrial output, which saw the indicator fell 0.6% m-o-m against 0.8% rise expected.

“Trading activities are expected to be light, as markets in Australia, Hong Kong, Indonesia and the Philippines remain shut for the Christmas holiday,” it said.