KUALA LUMPUR: The FBM KLCI slipped into the red at mid-morning on Thursday, Sept 23, due to the overnight losses at Wall Street and lack of fresh leads from key regional markets as the Japan, China and Hong Kong bourses are closed for holidays.
US stocks slipped on Wednesday as investors weighed the impact of the Federal Reserve's statement on Tuesday, which indicated the central bank was edging closer to pumping hundreds of billions of new dollars into the sluggish economy.
On Bursa Malaysia, the FBM KLCI fell 5.19 points to 1,469.56, dragged by losses including at Genting, BAT, IOI Corp, KLK and banking stocks.
Losers led gainers by 239 to 158, while 216 counters traded unchanged. Volume was 248.94 million shares valued at RM203.67 million.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on Thursday said due to the softer trading mode in the USA last night, the FBM KLCI would be in a benign mood on Thursday, with some blue chip bargain hunting movements as well as some rotational lower liner activity.
"Obvious profit-taking activities may trim the market's advance. As such, trade with a relevant stop-loss on each stock for a short to medium-term time frame," he said.
At mid-morning, Genting, BAT and Putrajaya Perdana fell 30 sen each to RM10.08, RM47.50 and RM4.20, respectively; IOI Corporation fell eight sen to RM5.52, RHB Capital lost three sen to RM7.02 while Maybank, Public Bank and KLK fell two sen each to RM8.66, RM12.64 and RM16.98.
Glove makers continued to slide with Top Glove losing 16 sen to RM5.14, Supermax down 11 sen to RM4.08, Hartaleda down 10 sen to RM4.20 and Latexx down nine sen to RM2.51.
PPB was the top gainer at mid-morning and was up 20 sen to RM17.56; other gainers included Vitrox that rose 16 sen to RM1.30, Jetson up 10 sen to RM1.24, Bursa up eight sen to RM8.13, YTL up seven sen to RM7.70 while MISC rose six sen to RM8.87.
Karambunai was most actively traded counter with 5.03 million shares done. The stock added 2.5 sen to 10.5 sen.
US stocks slipped on Wednesday as investors weighed the impact of the Federal Reserve's statement on Tuesday, which indicated the central bank was edging closer to pumping hundreds of billions of new dollars into the sluggish economy.
On Bursa Malaysia, the FBM KLCI fell 5.19 points to 1,469.56, dragged by losses including at Genting, BAT, IOI Corp, KLK and banking stocks.
Losers led gainers by 239 to 158, while 216 counters traded unchanged. Volume was 248.94 million shares valued at RM203.67 million.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on Thursday said due to the softer trading mode in the USA last night, the FBM KLCI would be in a benign mood on Thursday, with some blue chip bargain hunting movements as well as some rotational lower liner activity.
"Obvious profit-taking activities may trim the market's advance. As such, trade with a relevant stop-loss on each stock for a short to medium-term time frame," he said.
At mid-morning, Genting, BAT and Putrajaya Perdana fell 30 sen each to RM10.08, RM47.50 and RM4.20, respectively; IOI Corporation fell eight sen to RM5.52, RHB Capital lost three sen to RM7.02 while Maybank, Public Bank and KLK fell two sen each to RM8.66, RM12.64 and RM16.98.
Glove makers continued to slide with Top Glove losing 16 sen to RM5.14, Supermax down 11 sen to RM4.08, Hartaleda down 10 sen to RM4.20 and Latexx down nine sen to RM2.51.
PPB was the top gainer at mid-morning and was up 20 sen to RM17.56; other gainers included Vitrox that rose 16 sen to RM1.30, Jetson up 10 sen to RM1.24, Bursa up eight sen to RM8.13, YTL up seven sen to RM7.70 while MISC rose six sen to RM8.87.
Karambunai was most actively traded counter with 5.03 million shares done. The stock added 2.5 sen to 10.5 sen.
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