KLCI stays in the red, ringgit falls to RM3.7 vs USD


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KUALA LUMPUR (March 11): The FBM KLCI remained in negative zone at mid-morning on Wednesday, while the ringgit weakened to RM3.7 versus the US dollar ahead of Bank Negara’s release of its 2014/2015 annual report later in the day.

At 10am, the FBM KLCI fell 8.40 points to 1,781.33.

Meanwhile, the ringgit dipped to 3.7130 versus the greenback.

The top losers on Bursa Malaysia included PPB Group Bhd, Fraser & Neave Holdings Bhd, Petronas Gas Bhd, CIMB Group Holdings Bhd, Berjaya Food Bhd, Petronas Dagangan Bhd, Kuala Lumpur Kepong Bhd, UMW Holdings Bhd, Public Bank Bhd and Karex Bhd.

The actively traded counters included The Media Shoppe Bhd, Privasia Technology Bhd, Asia Bio Energy Bhd, Xinghe Holdings Bhd, Wintoni Group Bhd, Tiger Synergy Bhd and Perisai Petroleum Teknologi Bhd.

The gainers included LPI Capital Bhd, BIMB Holdings Bhd, Panasonic Malaysia Manufacturing Bhd, Hartalega Holdings Bhd, Press Metal Bhd, Sunsuria Holdings Bhd, Only World Group Holdings Bhd, Syarikat Takaful Malaysia Bhd, DiGi.Com Bhd and Faber Group Bhd.

Asian stocks fell to a two-month low on Thursday as nervous markets recoiled on worries about an earlier U.S. interest rate hike, while such a prospect helped send the dollar to a 12-year high against the euro, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.4 percent after touching its lowest since January. Japan's Nikkei dipped 0.1 percent and Australian and South Korean shares lost 1.1 percent and 0.7 percent, it said.

Hong Leong IB Research said that on the back of overnight Dow’s 1.9% plunge and nagging local concerns, teh FBM KLCI may experience further consolidation in the short term towards 1770-1780 supports.

“A stronger floor is near 1757 levels,” it said.