Sentiment mixed on Bursa, KLCI falls

  • Markets
  • Monday, 22 Sep 2014

KUALA LUMPUR: Market sentiment turned cautious in late morning trade on Monday, mirroring the weakness in regional markets, with analysts expecting the FBM KLCI to trade below the 1,850 level.

The market continued to be plagued by foreign selling, with BIMB Securities Research reporting that net foreign outflow was rather high at RM635.8mil in the week ended Sept 19.

At 11.05am, the KLCI was down 1.98 points to 1,847.51. Turnover was 1.06 billion shares valued at RM464/21mil. There were 286 gainers, 296 losers and 321 counters unchanged.

Reuters reported Asian shares skidded on Monday as investors awaited data this week that could provide more evidence of a slowdown in China, while the dollar gave back a little of its recent gains.

China's flash manufacturing PMI reading on Tuesday could come in below the 50 level, indicating that manufacturing activity is contracting.

At Bursa Malaysia, foreign fund favourites Aeon Credit fell 34 sen to RM15.64 and Carlsberg lost 24 sen to RM12.20.

Crude palm oil for third month delivery fell RM29 to RM2,082. PPB Group lost 20 sen to RM14.20 and KL Kepong shed 14 sen to RM21.28. However, United Plantations rose 76 sen to RM26.78 with 100 shares done.

Oriental Holdings was down 16 sen to RM7.62, Gas Malaysia 14 sen to RM3.51 and Hap Seng 11 sen lower at RM3.88.

Shell rose 28 sen to RM5.90 and BHS jumped 27 sen to RM3.13 while FCW added 15 sen to RM1.70 and Multi-Usage Holdings was up 14 sen to RM2.07.

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