KUALA LUMPUR: The FBM KLCI extended its losses at midday on Friday dragged by CIMB, in tandem with the mostly weaker regional markets as oil price edged up.
At 12.30pm, the KLCI was down 2.63 points to 1,742.37. Turnover was 970.81 million shares valued at RM838.7mil. There were 265 gainers, 397 decliners and 277 counters unchanged.
Reuters reported that oil prices edged up in early Asian trading on Friday benefiting from positive technical price momentum, but analysts said it was too early for a trend reversal of steep recent price falls as structural oversupply remains in place.
While the fundamental outlook for oil remains bearish due to oversupply, technical price indicators seem to allow space for some short-term price increases, it said.
At Bursa Malaysia, CIMB fell 11 sen to RM5.80 and erased 1.8 points from the index.
KLCC fell 11 sen to RM6.69 and PetGas 32 sen to RM21.38.
HLFG fell 14 sen to RM16.44 and LPI 30 sen to RM17.60.
Gainers were SKPetro, up 11 sen to RM2.55 and Scicom eight sen to RM1.67.
PPB Group rose 16 sen to RM14.18.
Nikkei 225 fell 1.35% to 16,706.62
Hong Kong Hang Seng Index fell 1% to 24,107.56
Shanghai Stock Exchange Composite Index rose 1.04% to 3,371.23
Taiwan Stock Exchange Weighted Index fell 0.03% to 9,162.16
Korea Stock Exchange KOSPI Index fell 1.4% to 1,887.31
Straits Times Index STI fell 1.12% to 3,301.42
Crude oil rose 32 cents to US$46.57 while Brent rose 29 cents to US$48.56.
Spot gold fell US$4.06 to US$1,258.69
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