KUALA LUMPUR (March 22): The FBM KLCI slipped in early trade on Thursday, in line with the global shares that drifted lower overnight on weaker U.S. housing data on that dashed investors' hopes for further evidence of a stronger economy than forecast.
The FBM KLCI slipped 2.12 points to 1,580.41 at 9am, weighed by losses in blue chips.Gainers led losers by 86 to 36, while 85 counters traded unchanged. Volume was 50.90 million shares valued at RM14.61 million.
CIMB Research said that in the second leg of its 2012 strategy roadshow, the investors it met in four European cities had relatively light Malaysian holdings.
The research house said politics was the recurrent topic, specifically the election and its timing.
“Although we are optimistic that the period before general elections are called will be buoyant for the stockmarket, we continue to advise investors to sell into strength as election risks remain elevated. Maintain Neutral on Malaysia and end-2012 KLCI target of 1,610,” it said.
Among te eary decliners were Hong Leong Bank, Public Bank, Tenaga, MPHB, IOI Corp, PPB, YTL, and Axiata.
Metronic was the most actively traded counter . Other actives included Ariantec, Hubline, AsiaBio, Ingenuity Solutions, MMSV, Mrco, Utopia n Daya Materials.
Gainers included BAT Malayan Flour Mills, GAB, Jaya tiasa, KLCCP, Texchem, S PSetia and Berjaya Food.
The FBM KLCI slipped 2.12 points to 1,580.41 at 9am, weighed by losses in blue chips.Gainers led losers by 86 to 36, while 85 counters traded unchanged. Volume was 50.90 million shares valued at RM14.61 million.
CIMB Research said that in the second leg of its 2012 strategy roadshow, the investors it met in four European cities had relatively light Malaysian holdings.
The research house said politics was the recurrent topic, specifically the election and its timing.
“Although we are optimistic that the period before general elections are called will be buoyant for the stockmarket, we continue to advise investors to sell into strength as election risks remain elevated. Maintain Neutral on Malaysia and end-2012 KLCI target of 1,610,” it said.
Among te eary decliners were Hong Leong Bank, Public Bank, Tenaga, MPHB, IOI Corp, PPB, YTL, and Axiata.
Metronic was the most actively traded counter . Other actives included Ariantec, Hubline, AsiaBio, Ingenuity Solutions, MMSV, Mrco, Utopia n Daya Materials.
Gainers included BAT Malayan Flour Mills, GAB, Jaya tiasa, KLCCP, Texchem, S PSetia and Berjaya Food.
