KLCI down 0.38% as regional markets turn choppy

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(June 12): The FBM KLCI fell 0.38% at the midday break today against the backdrop of choppy regional markets, dragged by select index-linked blue chips.

At 12.30pm, the FBM KLCI fell 6.66 points to 1,769.14.

Losers led gainers by 386 to 173, while 537 counters traded unchanged. Volume was 1.42 billion shares valued at RM1.07 billion.



The top losers included United Plantations Bhd, Top Glove Corp Bhd, Heineken Bhd, S P Setia Bhd, Bhd, Hong Leong Industries Bhd, KESM Industries Bhd, Tenaga Nasional Bhd, Genting Bhd, Malayan Bhd and AirAsia Bhd.

The actives included Sapura Energy Bhd, My E.G. Services Bhd, Barakah Offshore Petroleum Bhd, Frontken Corp Bhd, Perisai Petroleum Teknologi Bhd and UCrest Bhd.

The gainers included British American Tobacco (M) Bhd, Fraser & Neave Holdings Bhd, Bintulu Port Holdings Bhd, Alliance Bank Malaysia Bhd, Hong Leong Financial Group Bhd and Gamuda Bhd.

The jumped to a three-week top on Tuesday while stock markets in Asia were choppy as a historic US-North Korea summit got underway in , raising some hopes it could pave the way to ending a nuclear stand-off on the Korean peninsula, according to Reuters.

US President Donald Trump and North Korean leader Kim Jong Un smiled for cameras after 41 minutes of one-on-one talks, just months after they traded insults and tensions spiralled in the region over the latter’s nuclear programmes, it said.

CIMB Retail Research said the local bourse inched down 2.52 points or 0.14% on Monday as market remained cautious amid the global trade tensions as well as ahead of European and Federal Reserve meetings in the week.

“The bellwether FBM KLCI index formed an inverted hammer candle yesterday following Friday’s bearish engulfing pattern, suggesting that the index is likely to remain under pressure going forward.

“Resistance levels are at 1,800 and 1,814 while supports are 1,765 and 1,758,” it said.



Source: The Edge






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