KUALA LUMPUR: The FBM KLCI slipped into the red at mid-morning on Monday, May 30 in line with the generally tepid trading at key regional markets.
The FBM KLCI fell 2.14 points to 1,546.55 at 10am, weighed by losses including at DiGi, Petronas Dagangan, PPB, Hong Leong Bank and Tenaga.
Losers led gainers by 240 to 140, while 210 counters traded unchanged. Volume was 138.15 million shares valued at RM123.28 million.
At the regional markets, Japan's Nikkei 225 shed 0.05% to 9,517.39, Hong Kong's Hang Seng Index was down 0.04% to 23,108.11, the Shanghai Composite Index lost 0.30% to 2,701.88 and South Korea's Kospi fell 0.49% to 2,089.91.
Meanwhile, Taiwan's Taiex added 0.20% to 8,827.86 and Singapore's Straits Times Index edged up 0.16% to 3,140.61.
BIMB Securities Research said that despite the firmer regional markets, heightened volatility in both equities and commodities markets was expected to remain as a thorn to any consistent and meaningful uptrend.
With many global managers now reverting to seek refuge in more defensive instruments, such volatility was expected to persist in the short to medium term, it said in a note May 30.
'Locally, we do not see any excitement in trading with selective buying on blue chips to continue. Announcement over the weekend regarding the rationalisation of Sime Darby's business may put the group in the limelight.
'The FBMKLCI may continue to trade at a narrow range with the immediate resistance at the 1,550 level,' it said.
DiGi was the top loser and fell 34 sen to RM28.20; Perstima fell 14 sen to RM4.46, Petronas Dagangan down 12 sen to RM16.20, PPB and Hong Leong Bank down 10 sen each to RM17.50 and RM12.10, Ajinomoto, Tradewinds and Tenaga eight sen each to RM4.06, RM10.04 and RM6.50 respectively, Hwatai sen to 53 sen while Tafi fell 6.5 sen to 30 sen.
Jotech was the most actively traded counter with 12.83 million shares. The stock shed half a sen to 13.5 sen.
Other actives included SAAG, GSB, Talam, Karambunai, KNM. HWGB and MAS.
Malaya Flour Mills, which proposed a share split and a special dividend of 62 sen per share, was the top gainer and rose 85 sen to RM7.60.
Other gainers included Hap Seng, HLFG, United PLANTATION []s, Rimbunan Sawit, BAT and Heitech Padu.
The FBM KLCI fell 2.14 points to 1,546.55 at 10am, weighed by losses including at DiGi, Petronas Dagangan, PPB, Hong Leong Bank and Tenaga.
Losers led gainers by 240 to 140, while 210 counters traded unchanged. Volume was 138.15 million shares valued at RM123.28 million.
At the regional markets, Japan's Nikkei 225 shed 0.05% to 9,517.39, Hong Kong's Hang Seng Index was down 0.04% to 23,108.11, the Shanghai Composite Index lost 0.30% to 2,701.88 and South Korea's Kospi fell 0.49% to 2,089.91.
Meanwhile, Taiwan's Taiex added 0.20% to 8,827.86 and Singapore's Straits Times Index edged up 0.16% to 3,140.61.
BIMB Securities Research said that despite the firmer regional markets, heightened volatility in both equities and commodities markets was expected to remain as a thorn to any consistent and meaningful uptrend.
With many global managers now reverting to seek refuge in more defensive instruments, such volatility was expected to persist in the short to medium term, it said in a note May 30.
'Locally, we do not see any excitement in trading with selective buying on blue chips to continue. Announcement over the weekend regarding the rationalisation of Sime Darby's business may put the group in the limelight.
'The FBMKLCI may continue to trade at a narrow range with the immediate resistance at the 1,550 level,' it said.
DiGi was the top loser and fell 34 sen to RM28.20; Perstima fell 14 sen to RM4.46, Petronas Dagangan down 12 sen to RM16.20, PPB and Hong Leong Bank down 10 sen each to RM17.50 and RM12.10, Ajinomoto, Tradewinds and Tenaga eight sen each to RM4.06, RM10.04 and RM6.50 respectively, Hwatai sen to 53 sen while Tafi fell 6.5 sen to 30 sen.
Jotech was the most actively traded counter with 12.83 million shares. The stock shed half a sen to 13.5 sen.
Other actives included SAAG, GSB, Talam, Karambunai, KNM. HWGB and MAS.
Malaya Flour Mills, which proposed a share split and a special dividend of 62 sen per share, was the top gainer and rose 85 sen to RM7.60.
Other gainers included Hap Seng, HLFG, United PLANTATION []s, Rimbunan Sawit, BAT and Heitech Padu.
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