KUALA LUMPUR: Blue chips fell early Monday, dragged down by profit taking of star performer CIMB Group
, while new listing WMG Holdings was flat in the first half-hour of trade.
At 9.30am, the KLCI was down 2.19 points or 0.12% to 1,764.89. Turnover was 282.31 million shares valued at RM125.04mil. There were 166 gainers, 192 losers and 272 counters unchanged.
The ringgit rose 0.08% to the US dollar at 4.276 from the previous close of 4.2795.
Kenanga Investment Bank Research said it sees increased risk to the past week’s relief recovery.
“Unless and until the 1,771 resistance level is taken out fairly soon, we expect the near-term direction to be sideways with a mild downside bias in the week ahead.
“Support levels are 1,760 (S1) and 1,750 (S2), while overhead resistances include the aforementioned 1,771 (R1) level and 1,789 (R2) further up,” it said.
Property company WMG was unchanged at 48 sen with 132,600 shares done. WMG took over the listing status of Tekala Corporation Bhd following the completion of a restructuring scheme.
CIMB fell 10 sen yo RM6.54 with 803,900 shares done. HCK fell the most, down 13 sen to RM5.55, while Kwantas lost eight sen to RM1.35 and Poly Glass Fibre seven sen lower at 55.5 sen.
Among the glove makers, Kossan fell nine sen to RM7.01 and Hartalega eight sen lower at RM7.07.
However, refiners Hengyuan jumped 68 sen to RM7.58 and Petron 14 sen higher at RM8.99.
Ajinomoto gained 20 sen to RM25.88 and Heineken eight sen higher at RM18.10.
Pentamaster added 16 sen to RM4.43 and Elsoft 10 sen to RM2.90.
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