Friday 02 Jun 2023
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KUALA LUMPUR (Oct 17): The FBM KLCI remained lacklustre at mid-morning today in line with sombre regional markets.

At 10am, the FBM KLCI shed 0.54 points to 1,574.36.

Gainers led losers by 264 to 211, while 311 counters traded unchanged. Volume was 562.63 million shares valued at RM275.22 million.

The decliners included Aeon Credit Service (M) Bhd, Zhulian Corp Bhd, Hap Seng Consolidated Bhd, Magna Prima Bhd and Malaysia-listed Hang Seng Index-linked put warrants.

The actives included Bumi Armada Bhd, Sapura Energy Bhd, Perdana Petroleum Bhd, ARB Bhd, Mestron Holdings Bhd and MTAG Group Bhd.

The gainers included British American Tobacco (M) Bhd, Ajinomoto (M) Bhd, Hong Leong Industries Bhd, Allianz Malaysia Bhd, Malaysian Pacific Industries Bhd, SAM Engineering & Equipment Bhd, Heineken Malaysia Bhd, Malayan Cement Bhd, Petronas Dagangan Bhd and Scientex Bhd.

Global stocks barely moved on Thursday as soft U.S. retail sales data raised concerns about the health of the world's largest economy and risk of global recession, while sterling was volatile as negotiations on a Brexit deal continued, according to Reuters.

Both MSCI's broadest index of Asia-Pacific shares outside Japan and Japan's Nikkei were little changed in early trade while U.S. stock futures lost 0.15%, it said.

Kenanga IB Research said Asian markets closed higher yesterday tracking gains from Wall Street after a series of upbeat corporate earnings.

It said back home, the FBMKLCI gained 8.67 points or 0.55% to close at 1,574.90.

“Chart-wise, the underlying trend remains bearish as the index is trading below all the key SMAs.

“However we believe the index is currently undergoing a rebound rally, as highlighted in our piece two days ago.

“Support levels can be identified at 1,550 (S1) and 1,510 (S2), while overhead resistance levels can be found at 1,630 (R1) and 1,650 (R2),” it said.

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