KUALA LUMPUR: Investors were confronted with another tough day ahead on Friday after the overnight slide on Wall Street further dented sentiment again and sent key Asian markets and the FBM KLCI lower.
At 9.08am, the KLCI was down 5.57 points or 0.34% to 1,644.99. Turnover was 104.44 million shares valued at RM40.16mil. There were 31 gainers, 123 losers and 109 counters unchanged.
Kenanga Research said overall technical outlook remains bearish as the index is still trading below all key SMAs.
“From here, we expect the index to trend nearer to its next support at 1,615 (S1) and 1,600 (S2).
“Conversely, any positive development in the macro environment may see the index test its support-turned-resistance of 1,660 (R1) and 1,700 (R2),” it said.
On the external front, E-Mini futures for the S&P 500 were off another 0.25%, while MSCI's broadest index of Asia-Pacific shares outside Japan went flat. South Korean stocks slipped 0.3% and Japan's Nikkei 0.5%.
Dutch Lady
fell the most, down 92 sen to RM59.60.
Among the banks and finance stocks, HLFG lost 28 sen to RM18.52 while Public Bank was down 12 sen to RM24.54.
Press Metal lost 10 sen to RM4.75, Genting Malaysia and MAHB eight sen each to RM3 and RM8.10.
As for tech and semicon stocks, Pentamaster lost nine sen to RM2.65 and Vitrox eight sen lower at RM6.10 but Unisem rose three sen to RM3.17.
The slump in oil prices saw Dialog and Yinson retreating seven sen each to RM2.95 and RM4.12.
Kian Joo rebounded 11 sen to RM2.56, Aeon Credit added 10 sen to RM14.94 while EA Tech was up three sen to 34.5 sen.
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