KUALA LUMPUR (April 4) : Malaysian stocks gave up earlier gains to slip into the red at mid-morning on Wednesday against a weaker backdrop across Asian equity indices.
This follows a weaker overnight close across US markets after policymakers indicated that they may not implement further quantitative easing to spur the world’s largest economy. Analysts said a weaker overnight close at US markets could dictate sentiment across Malaysian stocks on Wednesday.
“Still, we reckon the benchmark index (FBM KLCI) is expected to show resilience as investors may be tempted to buy on dips following the new record levels set by our local bourse this week,” HwangDBS Vickers Research Sdn Bhd wrote in a note.
At 10am, the 30-stock FBM KLCI fell 3.26 points to 1,603.37. Some 259 million shares worth RM111 million changed hands, leading to 142 gainers against 176 decliners while 256 entities were unchanged.
Top gainer BRITISH AMERICAN TOBACCO (M) [] Bhd rose 32 sen to RM56.54 followed by United PLANTATION []s Bhd which added 10 sen to RM25.
Decliners PPB GROUP BHD [] fell 12 sen to RM16.58 while TRIPLC BHD [] was down 7.5 sen to 43 sen.
Among actively traded stocks, Ariantec Global Bhd and METRONIC GLOBAL BHD [] were unchanged at 10.5 sen and 16 sen respectively with some 20 million shares done.
Across Asia, Japan’s Nikkei 225 fell 0.44% to10,005.8 points, Australia’s S&P / ASX 200 declined 0.43% to 4,318.6 while Taiwan’s Taiex was down 1.3% to 7,760.85
Stock markets in Hong Kong and China are closed on Wednesday. Note that markets in Europe and the US will be closed on Friday for the Easter holiday.
This follows a weaker overnight close across US markets after policymakers indicated that they may not implement further quantitative easing to spur the world’s largest economy. Analysts said a weaker overnight close at US markets could dictate sentiment across Malaysian stocks on Wednesday.
“Still, we reckon the benchmark index (FBM KLCI) is expected to show resilience as investors may be tempted to buy on dips following the new record levels set by our local bourse this week,” HwangDBS Vickers Research Sdn Bhd wrote in a note.
At 10am, the 30-stock FBM KLCI fell 3.26 points to 1,603.37. Some 259 million shares worth RM111 million changed hands, leading to 142 gainers against 176 decliners while 256 entities were unchanged.
Top gainer BRITISH AMERICAN TOBACCO (M) [] Bhd rose 32 sen to RM56.54 followed by United PLANTATION []s Bhd which added 10 sen to RM25.
Decliners PPB GROUP BHD [] fell 12 sen to RM16.58 while TRIPLC BHD [] was down 7.5 sen to 43 sen.
Among actively traded stocks, Ariantec Global Bhd and METRONIC GLOBAL BHD [] were unchanged at 10.5 sen and 16 sen respectively with some 20 million shares done.
Across Asia, Japan’s Nikkei 225 fell 0.44% to10,005.8 points, Australia’s S&P / ASX 200 declined 0.43% to 4,318.6 while Taiwan’s Taiex was down 1.3% to 7,760.85
Stock markets in Hong Kong and China are closed on Wednesday. Note that markets in Europe and the US will be closed on Friday for the Easter holiday.
