KUALA LUMPUR: Investors took profit early Wednesday with refiners Petron and Hengyuan among the decliners while Magni-Tech fell after its disappointing quarterly results.
At 9.30am, the KLCI was down 2.81 points or 0.16% to 1,726.76. Turnover was 423.39 million shares valued at RM150.43mil. There were 220 gainers, 151 losers and 213 counters unchanged.
Kenanga Investment Bank Research said overall, the technical outlook for the KLCI still remains bearish at this juncture, although it has turned gradually neutral over the past few days.
“The index is currently in the midst of retesting its 1,729 (R1) resistance. We believe it stands a higher chance of a breakout now as compared to previous attempts, given the improving displays of key indicators of late,” it said.
Magni-Tech fell the most, down 41 sen to RM5.60 while Gamuda gave up 14 sen to RM4.76 and Atlan lost 11 sen to RM4.15 in thin trade.
Public Bank fell 10 sen to RM201.10, Press Metal
nine sen to RM4.87 while Petron and Hengyuan shed eight sen each to RM12.72 and RM11.82.
Vitrox was the top performer, up 28 sen to RM5.71. Petronas Dagangan gained 12 sen to RM24.66 and Petronas Gas eight sen higher at RM16.14.
QL Resources rose eight sen to RM4.35 and MPI six sen to RM11.60.
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