Public Bank, Petronas Chemicals down early Friday

KUALA LUMPUR: The attrition on Bursa Malaysia continued early Friday with selling of Public Bank and Petronas Chemicals as the FBM KLCI extended its decline to a fresh six-month low.

At 9.30am, the KLCI was down 1.48 points or 0.08% to 1,742.51. Turnover was 467.77 million shares valued at RM138.69mil. There were 186 gainers, 185 losers and 264 counters unchanged.

The FBM KLCI, which fell below the key 1,750 level  to a six-month low on Thursday, may face a significant downside risk to decline towards the next support level of 1,729, AmInvestment Research says, though there is a possible potential technical rebound ahead.

Reuters reported Asian shares inched slightly higher on Friday, but grappled for firmer leads as speculation about who the next U.S. central bank chief will be kept global investors wary.

MSCI's broadest index of Asia-Pacific shares outside Japan, which scaled a 10-year peak on Tuesday, was up 0.1% in early trading, but still down 0.2% for the week.

Japan's Nikkei slipped 0.3%, still on track for a robust weekly gain of 1.1%. The Nikkei logged its 13th winning session on Thursday, its longest such streak since 1988.

HLFG lost 16 sen to RM16.46, Public Bank fell eight sen to RM20.40 while Petronas Chemicals  lost  six sen to RM7.48.  

MPI was down 10 sen to RM13.90, Lii Hen nine sen lower at RM4.08, Boxpax seven sen to RM1.50 while Inari lost five sen  to RM2.77.

Top Glove continued its climb, adding 19 sen to RM6.59, KL Kepong gained eight sen to RM24.46 while Bursa and MAHB added six sen each to RM10.06 and RM8.46.