KUALA LUMPUR: The FBM KLCI fell to its lowest level since July 23 at mid-morning on Thursday, Aug 12, in line with the overall negative sentiment at key regional markets weighed down by worries of sustained global economic stagnation.
At the regional markets, Japan's Nikkei 225 fell 2.02% to 9,105.20, the South Korean Kospi lost 1.18% to 1,737.49, Taiwan's Taiex fell 1.15% to 7,804.19, the Singapore Straits Times Index down 0.83% to 2,924.42, the Shanghai Composite Index down 0.80% to 2,587.16 while Hong Kong's Hang Seng Index opened 1.4% lower at 20,981.81.
At Bursa Malaysia, the FBM KLCI fell 9.36 points to 1,343.55 at 10am, below its July 23 close of 1,345.68.
Losers thumped gainers by 313 to 76, while 153 counters traded unchanged. Volume was 162.95 million shares valued at RM210.64 million.
OSK Investment Research said Wednesday's retracement was still considered healthy as the market could still possibly be able to create another uptrend, adding that the immediate technical outlook of the FBM KLCI remains bullish.
"There is tough resistance at the 1,395 point-level, while initial support is still seen at the 1,350 point-level, followed by the 1,332 point-level and 1,326 point-level.
"The 1,350 point-level represents the previous peak of the 2009-2010 rally. A dip back below this level might cause some panic selling in the market," it said in a note Aug 12.
Among the major losers, Netle fell 90 sen to RM38.10, BAT amd DiGi down 58 sen each to RM43.52 and RM23.78, Petronas Dagangan fell 38 sen to RM10.20 and PPB lost 32 sen to RM17.24.
Tasek fell 27 sen to RM6.70, Petronas Gas down 24 sen to RM10, Hong Leong Bank lost 18 sen to RM8.68, while Hong Leong Financial Group and YTL fell 13 sen each to RM8.40 and RM7.23 respectively.
Pharmaniaga was the top gainer at mid-morning, and was up 22 sen to RM5.66. Cycle & Carriage added 10 sen to RM5.90; Plenitude, HPI Resources and AIC added five sen each to RM3.50, RM1.70 and 66 sen respectively, while Mieco was up 4.5 sen to 66.5 sen.
Talam was the most actively traded stock with 20.8 million shares done. The counter was unchanged at 11 sen. Other actives included Samudra, SAAG, Mieco, Multi Sports, TML Life and Berjaya Corp.
At the regional markets, Japan's Nikkei 225 fell 2.02% to 9,105.20, the South Korean Kospi lost 1.18% to 1,737.49, Taiwan's Taiex fell 1.15% to 7,804.19, the Singapore Straits Times Index down 0.83% to 2,924.42, the Shanghai Composite Index down 0.80% to 2,587.16 while Hong Kong's Hang Seng Index opened 1.4% lower at 20,981.81.
At Bursa Malaysia, the FBM KLCI fell 9.36 points to 1,343.55 at 10am, below its July 23 close of 1,345.68.
Losers thumped gainers by 313 to 76, while 153 counters traded unchanged. Volume was 162.95 million shares valued at RM210.64 million.
OSK Investment Research said Wednesday's retracement was still considered healthy as the market could still possibly be able to create another uptrend, adding that the immediate technical outlook of the FBM KLCI remains bullish.
"There is tough resistance at the 1,395 point-level, while initial support is still seen at the 1,350 point-level, followed by the 1,332 point-level and 1,326 point-level.
"The 1,350 point-level represents the previous peak of the 2009-2010 rally. A dip back below this level might cause some panic selling in the market," it said in a note Aug 12.
Among the major losers, Netle fell 90 sen to RM38.10, BAT amd DiGi down 58 sen each to RM43.52 and RM23.78, Petronas Dagangan fell 38 sen to RM10.20 and PPB lost 32 sen to RM17.24.
Tasek fell 27 sen to RM6.70, Petronas Gas down 24 sen to RM10, Hong Leong Bank lost 18 sen to RM8.68, while Hong Leong Financial Group and YTL fell 13 sen each to RM8.40 and RM7.23 respectively.
Pharmaniaga was the top gainer at mid-morning, and was up 22 sen to RM5.66. Cycle & Carriage added 10 sen to RM5.90; Plenitude, HPI Resources and AIC added five sen each to RM3.50, RM1.70 and 66 sen respectively, while Mieco was up 4.5 sen to 66.5 sen.
Talam was the most actively traded stock with 20.8 million shares done. The counter was unchanged at 11 sen. Other actives included Samudra, SAAG, Mieco, Multi Sports, TML Life and Berjaya Corp.
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