Friday 29 Mar 2024
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KUALA LUMPUR (Nov 13): The FBM KLCI stayed lacklustre at mid-morning on Thursday as regional markets were tentative ahead of key data from Japan and China.

At 10am, the FBM KLCI fell 1.14 points to 1,815.10.

The top losers included UMW Holdings Bhd, Kuala Lumpur Kepong Bhd, Shell Refining Company (Federation of Malaya) Bhd, Genting Plantations Bhd, IJM Land Holdings Bhd, PPB Group Bhd, Felda Global Ventures Holdings Bhd and Hong Leong Financial Group Bhd.

Minetech Resources Bhd was the most actively traded counter with 41.74 million shares done. The stock rose 3.12% or half a sen to 16.5 sen.

The other actives included Tiger Synergy Bhd, Malaysian Airline System Bhd, Sona Petroleum Bhd, Nova MSC Bhd and SapuraKencana Petroleum Bhd.

The top gainers included British American Tobacco (M) Bhd, Tenaga Nasional Bhd, Batu Kawan Bhd, Guiness Anchor Bhd, Telekom Malaysia Bhd, Press Metal Bhd, Dutch Lady Milk Industries Bhd and Sunway Bhd.

Regionally, Asian shares slipped slightly on Thursday as investors looked to a run of Chinese economic indicators due later in the day, while Wall Street shares ended a five-day winning streak as falling oil prices hurt energy stocks, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan ticked down 0.1 percent with resource-heavy Australian shares falling 0.5 percent, it said.

JF Apex Securities Research said U.S. stocks wavered overnight, largely erasing a retreat from records, as investors mulled the slowdown in Europe's economy and earnings from Macy's and other retailers.

Meanwhile, it said European shares closed sharply lower with investors shunning banking stocks after regulators announced penalties for the alleged manipulation of foreign exchange markets.

“On the local exchange, the FBM KLCI lost 8.87 points to 1816.24 points.

“A mixed open is in store for Asian bourses today following a lack of strong cues from Wall Street and ahead of key economic data from China and Japan.

“We expect the KLCI to remain lacklustre with a negative bias above the support of 1,800 points,” it said.

 

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