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KUALA LUMPUR (September 23): The FBM KLCI fell 0.7% in the midday recess on Wednesday, as Datuk Seri Anwar Ibrahim claimed to have “formidable” and “convincing” support from MPs to form a new government “strong”, in a context of struggle. regional markets.
At 12:30 p.m., the FBM KLCI lost 10.53 points to 1,495.25.
The breadth of the market turned negative with 676 losers and 99 winners, while 597 counters traded unchanged. The trading volume was 5.25 billion shares valued at RM 2.56 billion.
The losers were Carlsberg Brewery Malaysia Bhd, Aeon Credit Service (M) Bhd, Dutch Lady Milk Industries Bhd, KESM Industries Bhd, Hong Leong Financial Group Bhd, Petronas Dagangan Bhd, Pharmaniaga Bhd, Public Bank Bhd and UWC Bhd.
Actively traded stocks include Advance Synergy Bhd, Kanger International Bhd, Pasukhas Group Bhd, Vsolar Group Bhd, XOX Bhd, Iris Corp Bhd, Bintai Kinden Corp Bhd, Pegasus Heights Bhd, Ikhmas Jaya Group Bhd, and Fintec Global Bhd.
The winners included Nestlé (M) Bhd, Hartalega Holdings Bhd, Far East Holdings Bhd, Westports Holdings Bhd, Ajinomoto (M) Bhd, Scientex Bhd, Time dotCom Bhd, Teck Guan Perdana Bhd and QL Resources Bhd.
Reuters said Asian stock markets struggled to emulate Wall Street’s rally on Wednesday, as lingering concerns about the global economic recovery kept investors cautious, while declining inflation expectations helped the US dollar to a maximum of two months.
MSCI’s broader Asia-Pacific equity index outside of Japan held steady after two days of declines, but sentiment was not optimistic at all, he said.
Rakuten Trade Sdn Bhd said Wall Street posted a technical rally yesterday as buyers emerged en masse amid the Federal Reserve’s call to support the US economy indefinitely.
He said the Dow Jones Industrial Average gained 140 points to close almost at the 27,300 level, while the Nasdaq moved closer to the 11,000 threshold.
“In light of this, we believe that regional markets will trend up today after days of decline.
“Locally, we expect the FBM KLCI to maintain its bullish momentum after having a strong performance yesterday.
“Therefore, we believe that the benchmark will test the 1,510 mark today, after which 1,520 would be the immediate resistance level,” he said.
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