Profit taking drags KLCI into negative zone

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KUALA LUMPUR (Feb 18): The FBM KLCI fell into negative territory at noon on Wednesday as it ended trading before the start of the Lunar New Year holidays.

At 12.30pm, the FBM KLCI fell 2.22 points to 1,807.87.

The top losers included Dutch Lady Milk Industries Bhd, Genting Plantations Bhd, Hap Seng Consolidated Bhd, Lafarge Malaysia Bhd, RHB Capital Bhd, Syarikat Takaful Malaysia Bhd, Hong Leong Capital Bhd, Scientex Bhd, MISC Bhd and Hong Leong Bank Bhd.

The actively traded stocks included Wintoni Group Bhd, Nexgram Holdings Bhd, Perisai Petroleum Teknologi Bhd, IFCA MSC Bhd, Eduspec Holdings Bhd, Systech Bhd and Icon Offshore Bhd.

The gainers included Tasek Corporation Bhd, LPI Capital Bhd, Uzma Bhd, Danainfra Nasional Bhd, Petronas Dagangan Bhd, Oriental Holdings Bhd, Pestech International Bhd and VS Industry Bhd.

Asian equities tracked a mild bounce on Wall Street, edging higher on Wednesday as pessimism about the Greek debt saga receded somewhat, while the dollar strengthened against the yen thanks to higher U.S. debt yields.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 percent with South Korean, Thai and Indonesian bourses all posting gains.

Hong Leong IB Research said it anticipated profit taking ahead of long CNY holidays and an extended Greece’s debt talks tonight.
“Short term resistance at 1820-1830 whilst supports fall on 1793-1800,” it said.