KUALA LUMPUR (March 12): The FBM KLCI slipped at mid-morning on Monday in line with the cautious sentiment at most regional markets.
Asian shares fell on Monday as investors paused to assess the effect of strong U.S. jobs data, which scaled back expectations for more easing ahead of this week's Federal Reserve meeting, while concerns over China's slowdown also weighed on sentiment, according to Reuters.
The FBM KLCI shed 0.90 of a point to 1,578.10 at 10am, weighed by losses at select blue chips.
Gainers led losers by 219 to 165, while 221 counters traded unchanged. Volume was 310.96 million shares valued at RM194.03 million.
At the regional markets, Japan’s Nikkei 225 was up 0.25% to 9,955.00, Hong Kong’s Hang Seng Index edged up 0.01% to 21,087.90, the Shanghai Composite Index added 0.09% to 2,437.29, , and Singapore’s Straits Times Index added 0.15% to 2,967.70, while South Korea’s Kospi fell 0.40% to 2,010.20, Taiwan’s Taiex was down 0.07% to 8,010.31.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on Monday said The FBM KLCI lost 4.78 points and closed at 1,579.00 last Friday.
The weaker support areas for the FBM KLCI are in the 1,530 to 1,572 zone, he said.
“The next resistance levels of 1,579 and 1,597 may see heavy liquidation activities,” he said.
On Bursa Malaysia, decliners at mid-morning included Sunchirin that fell eight sen to RM1.40, Petronas Chemicals down sevens sen to RM6.77. Media Prima, KLK and Kulim lost six sen each to RM2.65, RM23.34 and RM4.20 respectively, whiel Bursa and Public Bankl fell four sen each to RM7.38 and RM13.70,
Naim Indah Corp was the most actively traded counter with 83.4 million shares done. The stock added six sen to 70.5 sen.
Other actives included HLS Corp, HWGB,Key West, and Hubline.
Gainers included Petrol One that rose 30 sen to RM1.15, Ekovest up 21 sen to RM2.78. Nice 15.5 sen to 51 sen, Tecnic 15 sen to RM3.85, Lafarge Malayan Cement and Bonia 12 sen each to RM7.37 and RM2.64, P.I.E 11 sen to RM4.75, UMW 10 aen to RM7.30 and NWP eight sen to 24 sen.
Asian shares fell on Monday as investors paused to assess the effect of strong U.S. jobs data, which scaled back expectations for more easing ahead of this week's Federal Reserve meeting, while concerns over China's slowdown also weighed on sentiment, according to Reuters.
The FBM KLCI shed 0.90 of a point to 1,578.10 at 10am, weighed by losses at select blue chips.
Gainers led losers by 219 to 165, while 221 counters traded unchanged. Volume was 310.96 million shares valued at RM194.03 million.
At the regional markets, Japan’s Nikkei 225 was up 0.25% to 9,955.00, Hong Kong’s Hang Seng Index edged up 0.01% to 21,087.90, the Shanghai Composite Index added 0.09% to 2,437.29, , and Singapore’s Straits Times Index added 0.15% to 2,967.70, while South Korea’s Kospi fell 0.40% to 2,010.20, Taiwan’s Taiex was down 0.07% to 8,010.31.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on Monday said The FBM KLCI lost 4.78 points and closed at 1,579.00 last Friday.
The weaker support areas for the FBM KLCI are in the 1,530 to 1,572 zone, he said.
“The next resistance levels of 1,579 and 1,597 may see heavy liquidation activities,” he said.
On Bursa Malaysia, decliners at mid-morning included Sunchirin that fell eight sen to RM1.40, Petronas Chemicals down sevens sen to RM6.77. Media Prima, KLK and Kulim lost six sen each to RM2.65, RM23.34 and RM4.20 respectively, whiel Bursa and Public Bankl fell four sen each to RM7.38 and RM13.70,
Naim Indah Corp was the most actively traded counter with 83.4 million shares done. The stock added six sen to 70.5 sen.
Other actives included HLS Corp, HWGB,Key West, and Hubline.
Gainers included Petrol One that rose 30 sen to RM1.15, Ekovest up 21 sen to RM2.78. Nice 15.5 sen to 51 sen, Tecnic 15 sen to RM3.85, Lafarge Malayan Cement and Bonia 12 sen each to RM7.37 and RM2.64, P.I.E 11 sen to RM4.75, UMW 10 aen to RM7.30 and NWP eight sen to 24 sen.
