KUALA LUMPUR: Heavyweights Sime Darby and Telekom Malaysia dragged the FBM KLCI marginally into the red at the midday break on Monday, Sept 6, despite the firmer key Asian markets.
However, interest in CIMB and AMMB helped provide some support for the 30-stock index which has risen 12.77% year-to-date.
At 12.30pm, the FBM KLCI was down 0.48 of a point to 1,435.19. Turnover was 403.56 million shares valued at RM570.91 million. There were 256 gainers, 310 losers and 270 stocks unchanged.
Light crude oil fell 34 cents to US$74.26, but crude palm oil futures added RM39 6o RM2,603 which was the highest since Aug 19. The ringgit was firmer against the US dollar, up 0.0080 to 3.1125.
Nikkei 225 +1.62% 9,261.88 Hang Seng Index +1.32% 21,248.95 Shanghai Composite Index +0.98%
2,681.46 Singapore Straits Times Index +0.25% 3,009.97 ''
At Bursa Malaysia, HLG Research said the market was likely to consolidate due to overbought technical readings and a holiday shortened week as Bursa Malaysia will be closed on Friday, Sept 10 for Hari Raya.
'Continued rotational selling momentum in overbought blue chips may accelerate further profit taking corrections,' it said in its market outlook report issued on Monday, Sept 6.
Sime Darby fell seven sen to RM8.21, dragging the FBM KLCI down by 1.02 points. TM lost five sen to RM3.39, erasing 0.43 of a point from the index while Maybanj shed two sen to RM8.43.
Genting Malaysia fell three sen to RM3.01, MISC four sen to RM8.80, Public Bank and Tenaga two sen each to RM12.20 and RM8.99 and Axiata one sen to RM4.50.
K-Star fell 18 sen to RM1.82 with 5,000 shares done on profit taking after the run-up last Friday.
Talam was the most active with 28.22 million shares done, edging up 0.5 sen to 9.5 sen.
Mudajaya rose one sen to RM4.49 and Muddajaya-CB unchanged at seven sen in active trade.'' CIMB Research maintained its BUY call and RNAV-based target price of RM7.94, which is pegged to an unchanged 20% discount to RNAV.
JCY, which managed to rebound over the past three days after the recent selldown, was flat at RM1.13. It had risen from its low of 88.5 sen last Wednesday.
Among the gainers were CIMB, adding 10 sen to RM7.99 and pushing the index up by 1.72 points. AMMB gained nine sen to RN5.98 and RHB Capital 13 sen to RM6.97.
Nestle was the top gainer, adding 30 sen to RM40.90.
However, interest in CIMB and AMMB helped provide some support for the 30-stock index which has risen 12.77% year-to-date.
At 12.30pm, the FBM KLCI was down 0.48 of a point to 1,435.19. Turnover was 403.56 million shares valued at RM570.91 million. There were 256 gainers, 310 losers and 270 stocks unchanged.
Light crude oil fell 34 cents to US$74.26, but crude palm oil futures added RM39 6o RM2,603 which was the highest since Aug 19. The ringgit was firmer against the US dollar, up 0.0080 to 3.1125.
Nikkei 225 +1.62% 9,261.88 Hang Seng Index +1.32% 21,248.95 Shanghai Composite Index +0.98%
2,681.46 Singapore Straits Times Index +0.25% 3,009.97 ''
At Bursa Malaysia, HLG Research said the market was likely to consolidate due to overbought technical readings and a holiday shortened week as Bursa Malaysia will be closed on Friday, Sept 10 for Hari Raya.
'Continued rotational selling momentum in overbought blue chips may accelerate further profit taking corrections,' it said in its market outlook report issued on Monday, Sept 6.
Sime Darby fell seven sen to RM8.21, dragging the FBM KLCI down by 1.02 points. TM lost five sen to RM3.39, erasing 0.43 of a point from the index while Maybanj shed two sen to RM8.43.
Genting Malaysia fell three sen to RM3.01, MISC four sen to RM8.80, Public Bank and Tenaga two sen each to RM12.20 and RM8.99 and Axiata one sen to RM4.50.
K-Star fell 18 sen to RM1.82 with 5,000 shares done on profit taking after the run-up last Friday.
Talam was the most active with 28.22 million shares done, edging up 0.5 sen to 9.5 sen.
Mudajaya rose one sen to RM4.49 and Muddajaya-CB unchanged at seven sen in active trade.'' CIMB Research maintained its BUY call and RNAV-based target price of RM7.94, which is pegged to an unchanged 20% discount to RNAV.
JCY, which managed to rebound over the past three days after the recent selldown, was flat at RM1.13. It had risen from its low of 88.5 sen last Wednesday.
Among the gainers were CIMB, adding 10 sen to RM7.99 and pushing the index up by 1.72 points. AMMB gained nine sen to RN5.98 and RHB Capital 13 sen to RM6.97.
Nestle was the top gainer, adding 30 sen to RM40.90.
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