KUALA LUMPUR: The FBM KLCI was down nearly four points lower in early trade on Thursday weighed by select blue chips, as investors took profit from Genting-related stocks.
At 9.03am, the KLCI erased 3.21 points to 1,814.17. Turnover was 59.88 million valued at RM70.745mil. The broader market was firmer with 81 gainers, 69 decliners while 160 stocks were unchanged.
HwangDBS Vickers Research said key indices on Wall Street fell from their record highs overnight (down between 0.4% and 0.5%) as profit-taking activity set in.
"Back home, the benchmark FBM KLCI – which hit a high of 1,818.89 before losing steam to close at 1,817.38 yesterday – could continue to range-bound between its immediate support and resistance levels of 1,800 and 1,825 for now," it said.
HwangDBS added stocks in focus today include YTL Power, as the group is believed to have submitted the lowest bid for a 2,000MW coal-fired power plant project; Tenaga Nasional, in the run-up to the release of its full-year FY Aug 13 financial results this evening and Aeon Credit Service
Malaysia, which has proposed an issuance of subordinated perpetual notes of up to RM400mil.
At Bursa Malaysia, Boustead fell six sen to RM5.18 and Tune Insurance eight sen to RM1.84.
Genting Bhd fell six sen to 10.60 and Genting Plantations six sen to RM10.94.
FGV fell four sen to RM4.46 and IJM four sen to RM5.79.
Gainers were Puncak, up five sen to RM3.41, GTronic three sen to RM3.03 and Ho Hup, up five sen to RM1.86.
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