KUALA LUMPUR: The FBM KLCI fell in early Wednesday trade, tracking the overnight losses on Wall Street, as investors were not hurrying to buy up battered down blue chips.
At 9.43am, the KLCI was down 2.16 points or 0.14% to 1,561.78. Turnover was 357.34 million shares valued at RM189.49mil. Losers beat gainers nearly two to one with 287 decliners to 151 advancers while 207 counters were unchanged.
JF Apex Research said following the overnight losses on Wall Street, it expects the KLCI to remain volatile with a negative bias.
“Immediate support is seen at 1,500 while immediate resistance is at 1,600,” it said.
Plantations were mixed with Far East down 40 sen to RM7.70 while PPB Group was down 28 sen to RM14.56 on the weaker immediate outlook for crude palm oil prices. However, Genting Plantations added 26 sen to RM9.18 and KL Kepong 16 sen higher at RM20.50.
UMW lost 14 sen to RM8.46 and Bursa Malaysia 12 sen to RM7.53 following the slump in the stock market.
Top Glove shed 13 sen to RM7.77 while MNRB lost 13 sen to RM2.99.
However, gains in Tenaga Nasional managed to pare the losses of the KLCI as the power giant gained 40 sen to RM10.94.
Limited time offer:
Just RM5 per month.
