KUALA LUMPUR: The local stock market took a breather in early trade on Friday, Aug 20, as investors locked in gains after the FBM KLCI hit 1,392.56, the highest since February 2008, on Thursday.
At 9.15am, the KLCI was down 1.9 points to 1,390.66. Turnover was 52.18 million shares valued at RM44.41 million. Losers beat advancers 131 to 66 while 108 stocks unchanged.
Hwang DBS Vickers Research said 'pulling the trigger to take profit ahead is the overnight drop on Wall Street'. Key US barometers fell between 1.4% and 1.7% at the closing bell following a rise in jobless claims and poor manufacturing data.
Among the decliners were Petronas Gas, down 22 sen to RM10.16 with only 300 shares done, Genting lost 13 sen to RM8.64 while PLUS and AMMB fell six sen each to RM3.92 and RM5.52.
Telekom lost five sen to RM3.52. OSK Research maintains its neutral recommendation on lingering concerns over the erosion of its traditional voice business (45% of revenue) and its premium valuations against the KLCI/local peers.
At 9.15am, the KLCI was down 1.9 points to 1,390.66. Turnover was 52.18 million shares valued at RM44.41 million. Losers beat advancers 131 to 66 while 108 stocks unchanged.
Hwang DBS Vickers Research said 'pulling the trigger to take profit ahead is the overnight drop on Wall Street'. Key US barometers fell between 1.4% and 1.7% at the closing bell following a rise in jobless claims and poor manufacturing data.
Among the decliners were Petronas Gas, down 22 sen to RM10.16 with only 300 shares done, Genting lost 13 sen to RM8.64 while PLUS and AMMB fell six sen each to RM3.92 and RM5.52.
Telekom lost five sen to RM3.52. OSK Research maintains its neutral recommendation on lingering concerns over the erosion of its traditional voice business (45% of revenue) and its premium valuations against the KLCI/local peers.
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