KUALA LUMPUR (Feb 11): The FBM KLCI remained in the negative zone at midday break today as sentiment stayed tepid, in line with slip at regional markets.
At 12.30pm, the FBM KLCI dipped 2.72 points to 1,683.80. The index had earlier risen to a high of 1,689.47.
Losers edged gainers by 344 to 336, while 1,173 counters traded unchanged. Volume was 1.35 billion shares valued at RM659.25 million.
The losers included Nestle (M) Bhd, Lysaght Galvanized Steel Bhd, Time Dotcom Bhd, Petronas Dagangan Bhd, Kuala Lumpur Kepong Bhd, Tong Herr Resources Bhd, Ajinomoto (M) Bhd and PPB Group Bhd.
The actives included Sapura Energy Bhd, Bumi Armada Bhd, Green Packet Bhd, JAG Bhd, Prestariang Bhd, Scomi Group Bhd, Katex Bhd, Priceworth International Bhd and Nexgram Holdings Bhd.
The gainers included Aeon Credit Service (M) Bhd, Heineken Malaysia Bhd, British American Tobacco (M) Bhd, Syarikat Takaful Malaysia Keluarga Bhd, Utusan Melayu (Malaysia) Bhd, Petron Malaysia Refining & Marketing Bhd, Allianz Malaysia Bhd, Dufu Technology Bhd and KESM Industries Bhd.
Asian shares started the week on the backfoot as investors were unable to shake off worries about global growth, U.S. politics and the Sino-U.S. trade war, keeping the safe-haven dollar well bid near a six-week top against major currencies, according to Reuters.
Chinese shares see-sawed on Monday after they resumed trading, following a week-long Lunar New Year holiday. The blue-chip index was last up 0.4%, Australian stocks were down 0.6%, while South Korea eased 0.2%, it said.
Affin Hwang Capital Research said the FBMKLCI Index ended last week on a sour note, dropping 6.87 points or 0.4%.
It said prices continue to congest sideways since the start of 2019, showing the lack of bullish sentiments in play.
“Technically, a short-term technical rebound that took place in the global equity markets recently has just ended and the markets anticipated resuming their prevailing downward trend from now on.
“Anticipate the FBM KLCI Index to congest sideways, with downward biases,” the research house said.