Friday 29 Mar 2024
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KUALA LUMPUR (Aug 3): The FBM KLCI remained in negative territory at mid-morning today, weighed by losses at blue chips led by telecommunication stosks, in line with the retreat at most regional markets.

At 10am, the FBM KLCI lost 16.46 points to 1,727.73.

The top losers included UMW Holdings Bhd, Maxis Bhd, British American Tobacco (M) Bhd, Axiata Group Bhd, Westports Holdings Bhd, PPB Group Bhd, Lafarge Malaysia Bhd, Hong Leong Industries Bhd, DiGi.Com Bhd, Genting Bhd and Tenaga Nasional Bhd.

The actives included Pesona Metro Holdings Bhd, Yong Tai Bhd, Konsortium Transnasional Bhd, APFT Bhd, AirAsia X Bhd, JCY International Bhd, Tiger Synergy Bhd and IFCA MSC Bhd.

The top gainers included SAM Engineering & Equipment Bhd, Fraser & Neave Holdings Bhd, MISC Bhd, Top Glove Corporation Bhd, Chin Teck Plantations Bhd, Axis REIT, KESM Industries Bhd, Public Bank Bhd and Malaysian Pacific Industries Bhd.

Asian shares edged lower on Tuesday after downbeat economic data pressured Wall Street ahead of key US jobs data later this week that could provide a key clue to the timing of the US Federal Reserve's interest rate increase, according to Reuters.

Crude oil prices stabilised after plunging overnight, with US crude adding about 0.6% to $45.42 a barrel. Brent gained 0.4% to $49.73 after skidding 5% to six-month lows, it said.

Hong Leong IB Research said the FBM KLCI is likely to extend last Friday’s rally in the early part of this week.

“However, upside is likely to be capped near 1,750–1,769 levels due to profit taking and lingering domestic worries,” it said.

 

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