KUALA LUMPUR: The FBM KLCI extended its losses for the fourth consecutive day on Wednesday, Sept 8 in line with the decline at regional markets, as well as on some mild profit taking ahead of the Hari Raya holidays.
At mid-morning, the FBM KLCI was down 3.41 points to 1,430.86, weighed by losses including at DiGi, Petronas Dagangan, Tanjong and AMMB.
Losers led gainers by 203 to 116, while 174 counters traded unchanged. Volume was 80.81 million shares valued at RM84.47 million.
RHB Research Institute in a note on Wednesday said it remains skeptical on the upside potential of the FBM KLCI due to the current weak momentum readings and declining daily turnover.
The research house said investors will likely adopt a wait-and-see strategy and remain cautious at the sidelines ahead of the long break.
On the upside, the benchmark must penetrate above the recent high of 1,441.80 with a stronger volume of 800 million-one billion shares to restore its bullish momentum towards 1,450.
"Otherwise, we believe the FBM KLCI will consolidate further to neutralise its recent overbought momentum until next week.
"In the meantime, we maintain our medium-term outlook on the index as long as it sustains at above the 10-day SMA of 1,422, the 1,400 psychological level and 1,390," it said.
DiGi was the top loser and fell 30 sen to RM24.56; Petronas Dagangan lost 28 sen to RM11.22, Tanjong fell 12 sen to RM21.40, while Top Glove and Supermax fell 11 sen each to RM5.73 and RM4.72.
AMMB lost seven sen to RM5.86, while BRDB, MMC Corp and United Malacca fell six sen each to RM2.04, RM2.72 and RM10.58.
The top gainer was Plenitude that added 38 sen to RM4.26; Genting Plantations rose 12 sen to RM7.62, Tradewinds and Knusford up 10 sen each to RM3.68 and RM1.69,United Plantations and F&N added eight sen each to RM15.06 and RM13.90, DFZ Capital up seven sen to RM3.70 while Tradewinds Corp added four sen to 78 sen.
DBE Gurney Resources was the most actively traded stock with 5.16 million shares done. The counter was unchanged at 24 sen. Other actives included Carotech, Sinotop, Axiata, KNM and Nextnation.
At the regional markets, Japan's Nikkei 225 fell 1.97% to 9,044.39, the Shanghai Composite Index down 0.43% to 2,687.08, Taiwan's Taiex fell 0.27% to 7,863.24, the South Korean Kospi down 0.67% to 1,775.79, Singapore's Straits Times Index down 0.91% to 3,008.37 while Hong Kong's Hang Seng Index opened 0.9% lower at 21,206.06.
At mid-morning, the FBM KLCI was down 3.41 points to 1,430.86, weighed by losses including at DiGi, Petronas Dagangan, Tanjong and AMMB.
Losers led gainers by 203 to 116, while 174 counters traded unchanged. Volume was 80.81 million shares valued at RM84.47 million.
RHB Research Institute in a note on Wednesday said it remains skeptical on the upside potential of the FBM KLCI due to the current weak momentum readings and declining daily turnover.
The research house said investors will likely adopt a wait-and-see strategy and remain cautious at the sidelines ahead of the long break.
On the upside, the benchmark must penetrate above the recent high of 1,441.80 with a stronger volume of 800 million-one billion shares to restore its bullish momentum towards 1,450.
"Otherwise, we believe the FBM KLCI will consolidate further to neutralise its recent overbought momentum until next week.
"In the meantime, we maintain our medium-term outlook on the index as long as it sustains at above the 10-day SMA of 1,422, the 1,400 psychological level and 1,390," it said.
DiGi was the top loser and fell 30 sen to RM24.56; Petronas Dagangan lost 28 sen to RM11.22, Tanjong fell 12 sen to RM21.40, while Top Glove and Supermax fell 11 sen each to RM5.73 and RM4.72.
AMMB lost seven sen to RM5.86, while BRDB, MMC Corp and United Malacca fell six sen each to RM2.04, RM2.72 and RM10.58.
The top gainer was Plenitude that added 38 sen to RM4.26; Genting Plantations rose 12 sen to RM7.62, Tradewinds and Knusford up 10 sen each to RM3.68 and RM1.69,United Plantations and F&N added eight sen each to RM15.06 and RM13.90, DFZ Capital up seven sen to RM3.70 while Tradewinds Corp added four sen to 78 sen.
DBE Gurney Resources was the most actively traded stock with 5.16 million shares done. The counter was unchanged at 24 sen. Other actives included Carotech, Sinotop, Axiata, KNM and Nextnation.
At the regional markets, Japan's Nikkei 225 fell 1.97% to 9,044.39, the Shanghai Composite Index down 0.43% to 2,687.08, Taiwan's Taiex fell 0.27% to 7,863.24, the South Korean Kospi down 0.67% to 1,775.79, Singapore's Straits Times Index down 0.91% to 3,008.37 while Hong Kong's Hang Seng Index opened 0.9% lower at 21,206.06.
No comments:
Post a Comment