KUALA LUMPUR: Key Asian markets and Bursa Malaysia were cautious in early Wednesday trade as investors remained cautious ahead of the US Federal Reserve's rate decision.
At 9.30am, the KLCI was up 1.97 points or 0.11% to 1,858.36. Turnover was 294.98 million shares valued at RM142.40mil. There were 260 gainers, 129 losers and 263 counters unchanged.
Kenanga Research said chart-wise, outlook for the index remains seemingly weak despite the higher closing on Tuesday as key indicators continued to be indecisive coupled with below average trading volume.
“Expect sideways movement in the short term with support at 1,840 (S1), followed by a lower support at 1,800 (S2).
“Conversely, a decisive takeout of key resistance at its high of 1,880 (R1) would be deemed bullish, seeing a higher resistance at 1,910 (R2),” the research house.
Earlier, MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.02%, after US stocks ended the previous session with mild gains. Japanese stocks weakened 0.47%, Reuters reported.
At Bursa, Nestle was the top gainer, up RM3.30 to RM131.20 with 4,700 shares done while Carlsberg gained 28 sen to RM18.86 and Dutch Lady
18 sen higher at RM67.20.
However, F&N gave up its previous day’s gains, falling 72 sen to RM30.66. BAT and Ajinomoto lost 10 sen each to RM27.90 and RM21.78.
The firmer crude oil prices saw Hengyuan rising 14 sen to RM8.53 while LC Titan gained nine sen to RM6.35.
KL Kepong gained 12 sen to RM25.52 while Focus added 11.5 sen to 31 sen, Magni Tech 10 sen to RM5.30 and ComCorp jumped 9.5 sen to 78.5 sen in active trade.
Asia-Pac Holdings ICULS fell 17 sen to 72 sen, Superlon 12 sen to RM1.48 and Hartalega, also down 12 sen to RM11.54.
Among the KLCI stocks, IHH and MISC fell nine sen each to RM6.11 and RM7.21.
Limited time offer:
Just RM5 per month.
