KLCI slips at midday pending global central bank announcements

KUALA LUMPUR: The FBM KLCI ended the morning session slightly lower as global markets awaited announcements by major central banks that are due later in the week.

The US Federal Reserve is scheduled to meet on Tuesday and Wednesday and is widely expected to maintain its guidance for gradual rate hikes over the remainder of the year. The Bank of Japan kicked off today and will end tomorrow with decisions made by policymakers on its asset-buying programme.

At 12.30pm, the local benchmark index was down 0.99 point to 1,768.15. Trading volume was muted with 1.3 billion shares done worth RM783.09mil.

There were 459 decliners versus 275 gainers and 362 counters unchanged.

IHH Healthcare was the leading decliners on the index, dropping 16 sen to RM5.89.

Meanwhile, banks were also seen sliding with CIMB losing four sen to RM5.95, Maybank dipping three sen to RM9.85 and Public Bank shaving two sen to RM24.02.

Tenaga Nasional saw buying interest with a six sen gain over the morning session to RM15.16. Genting rose five sen to RM8.75 while Digi gained six sen to RM4.60. Nestle rose 30 sen to RM147.80.

On the broader market, Fast East Holdings jumped RM1.48 to RM11.98, BAT climbed 30 sen to RM34.10 and Dutch Lady gained 16 sen to RM67.

MB World slid 20 sen to RM1.60, Time dotCom dropped 16 sen to RM8.05 and DKSH slid 10 sen to RM3.80.

In oil markets, prices were mixed as the US benchmark index rose after four weeks of declines while the international measure slipped from continued trade tensions.

WTI crude rose 18 cents to US$68.87 a barrel while Brent crude slid four cents to US$74.28 a barrel.

On the forex market, the ringgit was marginally weaker against major currencies. It slid 0.06% against the greenback to 4.0647, 0.09% against the pound sterling at 5.3272 and 0.02% against the Singapore dollar at 2.9833.