Another weak start for KLCI

KUALA LUMPUR: The FBM  KLCI started Wednesday on a weak note for the third consecutive day this week as investors stayed on the sidelines awaiting funds to take the lead while analysts expected another lacklustre day.

At  9.15am, the KLCI was down 1.74 points to 1,872.38. Turnover was 235.06 million shares valued at RM100.8mil. There were 172 gainers, 128 losers and 204 counters unchanged.

BIMB Securities Research said foreign funds were net sellers on Tuesday at RM16.5mil.

“We expect the local market to remain lacklustre in the short term due to lack of fresh catalysts with the index hovering in the region of 1,870-1,878,”  it said in its market outlook report.

I-Bhd, whose share price had rallied in recent weeks, fell 25 sen to RM1.19 with 3.98 million shares done.

Plantations-based PPB Group lost 14 sen to RM14.66 with two shares done. Keck Seng shed eight sen to RM6.10 and Ta Ann five sen to RM3.84. However, United Plantations rose 48 sen to RM27.98 with 100 shares traded.

Aeon Credit lost 12 sen to RM6.84 while Fiamma, Time dotCom and HL Industries shed six sen each to RM2.11, RM4.95 and RM8.14 respectively.

Rev Asia extended its gains, adding 15 sen to RM1.54 on expectations of capital distribution.

BHS Industries rose six sen to RM2.91 after Felda emerged as a major shareholder in the printing company.

Digistar  rose two sen 33.5 sen with 13.86 million shares done after it received the conditional approval for a money lending licence from the Urban Wellbeing, Housing and Local Government Ministry.  

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