Thursday 28 Mar 2024
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KUALA LUMPUR (Feb 22): The FBM KLCI dipped 0.07% at the midday break today as sellers outpaced buyers, tracking the fall at most regional markets amid some choppy trade.

At 12.30pm, the FBM KLCI fell 1.35 points to 1,856.82.

Losers led gainers by 357 to 245, while 576 counters traded unchanged. Volume was 1.48 billion shares valued at RM841.63 million.

The losers included Nestle (M) Bhd, United Plantations Bhd, Selangor Properties Bhd, Hong Leong Financial Group Bhd, Lingkaran Trans Kota Holdings Bhd, Malaysia Airports Holdings Bhd, Hong Leong Industries Bhd, Tenaga Nasional Bhd, Hong Leong Bank Bhd and UMW Holdings Bhd.

The actives included AirAsia X Bhd, PDZ Holdings Bhd, DGB Asia Bhd, Sapura Energy Bhd, PUC Bhd, Sumatec Resources Bhd, Trive Property Group Bhd and Hibiscus Petroleum Bhd.

The gainers included Dutch Lady Milk Industries Bhd, Ajinomoto (M) Bhd, British American Tobacco (M) Bhd, Genting Plantations Bhd, Toyo Ink Group Bhd, Fraser & Neave Holdings Bhd, Scientex Bhd and Innoprise Plantations Bhd.

Most Asian share markets followed S&P 500 futures lower on Thursday as speculation of faster hikes in US interest rates soured risk appetite globally, according to Reuters.

The US dollar held onto most of its overnight gains courtesy of higher Treasury yields, though the sudden shift to safety spurred demand for the Japanese yen, it said.

Affin Hwang IB senior associate director and head of retail research Datuk Dr Nazri Khan Adam Khan said global equity markets were anticipated to remain volatile and continue congesting sideways indicating a distribution activity is in progress.

"Stocks on Bursa Malaysia are perceived to remain vibrant with the FBM KLCI index's components and selected listed GLCs are anticipated to be active prior to the upcoming GE14.

"GE14 rally is still in progress, the oil and gas and construction stocks may continue to be the focus of investors in Bursa Malaysia," he said.

 

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