KLCI marginally lower as mild profit taking on select blue chips drags, regional markets drift

KUALA LUMPUR (Sept 15): The FBM KLCI was marginally lower in the mid-morning as mild profit taking on select index-linked stocks dragged, while regional markets drifted.

At 10am, the KLCI was down 3.21 points at 1,508.15.

Gainers edged losers by 396 to 384, while 364 counters traded unchanged. Trading volume was 2.4 billion shares valued at RM1.58 billion.

The top losers included Supermax Corp Bhd, Rubberex Corp (M) Bhd, Top Glove Corp Bhd and Comfort Gloves Bhd.

The actively traded stocks included Parkson Holdings Bhd, Hiap Teck Venture Bhd, Ekovest Bhd, Kanger International Bhd and Careplus Group Bhd.

The gainers included Malaysian Pacific Industries Bhd, Heineken Malaysia Bhd, Hartalega Holdings Bhd, Carlsberg Brewery Malaysia Bhd, Duopharma Biotech Bhd, KESM Industries Bhd, Pharmaniaga Bhd and LPI Capital Bhd.

Bloomberg said Asian stocks drifted at the open today after snapping two weeks of declines yesterday.

The US dollar maintained losses, while the yuan was steady after rising to the highest this year, it reported.

JF Apex Securities Research said US markets ended higher overnight as investment sentiment was boosted by positive news on the vaccine front.

It said that similarly, European stocks ended the day in the green after a mixed session that came on the back of a resumption of Covid-19 vaccine trials.

“On the local market, the FBM KLCI gained 6.51 points or 0.43% to end at 1,511.36 points [yesterday].

“We expect the local bourse to tread cautiously, awaiting the release of Chinese economic data for August. Our resistance and support levels are at 1,475 and 1,550 points respectively,” it said.

Source: TheEdgeMarkets