Losses at select blue chips weigh down KLCI



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KUALA LUMPUR (April 13): The FBM KLCI retreated in early trade today, weighed by losses at select bloue chips, in lien with the shaky start at most regional markets.

At 9.01am, the FBM KLCI shed 1.42 points to 1,842.89.

The top decliners in early trade included Carlsberg Brewery (M) Holdings Bhd, British American Tobacco (M) Bhd, Genting Plantations Bhd, Public Bank Bhd, IHH Healthcare Bhd, Tenaga Nasional Bhd, Gamuda Bhd, Sarawak Oil Palms Bhd, Petronas Dagangan Bhd and MMC Corporation Bhd.

Asian shares got off to a shaky start on Monday as recent rallies offered traders a profit-taking opportunity, while the dollar edged away from recent peaks in early trading, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.1 percent after touching its highest levels since September in the previous week, it said.

JF Apex Securities Research in a market preview today said US markets rose for a second consecutive week as investors prepare for next week's corporate results season.

Similarly, it said European stocks climbed on extra liquidity in the market.

“On the local market, the FBM KLCI lost 5.08 points to 1844.31 points as investors continue to take profit from the index's recent rally.

“Following the positive sentiment in global markets, we expect the FBM KLCI to rise towards its resistance of 1860 points,” it said.