KUALA LUMPUR: The FBM KLCI fell for the third consecutive day on Friday, July 29 in line with the jittery investor sentiment at regional markets following the weaker overnight close at Wall Street.
Investors at Asian markets exercised caution, as the deadlock over the raising of the US debt ceiling remains a thorny issue that has kept many on the sidelines and channeling funds from the equity markets into less riskier assets.
The FBM KLCI slipped 4.29 points to 1,547.62 at mid-morning, weighed by losses at select blue chips.
Losers led gainers by 218 to 160, while 199 counters traded unchanged. Volume was 260.07 million shares valued at RM168.18 million.
At the regional markets, Japan's Nikkei 255 edged down 0.08% to 9,893.71, Taiwan's Taiex fell 0.58% to 8,716.57 and South Korea's Kospi shed 0.18% to 2,151.94.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients July 29 said that due to the US markets' fall last night, there would be some initial selling activities n the local bourse today.
'Some futile bargain hunting activities may emerge later to cushion the market's initial fall.
'However, we see a longer-term decline for the local index,' he said.
KLK was the top loser at mid-morning and fell 24 sen to RM21.50; MISC lost 15 sen to RM7.59, Hong Leong Bank 14 sen to RM13.18, Far East nine sen to RM7.11, PPB and BAT down eight sen to RM17.22 and RM46.28, UMS seven to RM1.65, IOI Corp six sen to RM5.12 and RHB Capital five sen to RM9.06.
Dutaland shares and warrants were actively traded after IOI Corp yesterday proposed to acquire 11,977ha of oil palm PLANTATION [] from Dutaland's subsidiary for RM830 million.
The warrants rose one sen to 17.5 sen with 36.58 million units done, while the shares added one sent to 62.5 sen.
Other actives included Ingenuity Solutions shares and warrants, JAKS and Sinotop.
Gainers included Panasonic, HLS Corp, Tasek, HLFG, Genting and Lafarge Malayan Cement.
Investors at Asian markets exercised caution, as the deadlock over the raising of the US debt ceiling remains a thorny issue that has kept many on the sidelines and channeling funds from the equity markets into less riskier assets.
The FBM KLCI slipped 4.29 points to 1,547.62 at mid-morning, weighed by losses at select blue chips.
Losers led gainers by 218 to 160, while 199 counters traded unchanged. Volume was 260.07 million shares valued at RM168.18 million.
At the regional markets, Japan's Nikkei 255 edged down 0.08% to 9,893.71, Taiwan's Taiex fell 0.58% to 8,716.57 and South Korea's Kospi shed 0.18% to 2,151.94.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients July 29 said that due to the US markets' fall last night, there would be some initial selling activities n the local bourse today.
'Some futile bargain hunting activities may emerge later to cushion the market's initial fall.
'However, we see a longer-term decline for the local index,' he said.
KLK was the top loser at mid-morning and fell 24 sen to RM21.50; MISC lost 15 sen to RM7.59, Hong Leong Bank 14 sen to RM13.18, Far East nine sen to RM7.11, PPB and BAT down eight sen to RM17.22 and RM46.28, UMS seven to RM1.65, IOI Corp six sen to RM5.12 and RHB Capital five sen to RM9.06.
Dutaland shares and warrants were actively traded after IOI Corp yesterday proposed to acquire 11,977ha of oil palm PLANTATION [] from Dutaland's subsidiary for RM830 million.
The warrants rose one sen to 17.5 sen with 36.58 million units done, while the shares added one sent to 62.5 sen.
Other actives included Ingenuity Solutions shares and warrants, JAKS and Sinotop.
Gainers included Panasonic, HLS Corp, Tasek, HLFG, Genting and Lafarge Malayan Cement.
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