KLCI stays little changed, Asian markets trade mixed

  • Markets
  • Tuesday, 26 Mar 2019

KUALA LUMPUR: The FBM KLCI was little changed from its previous session close at midday as fears of a potential US recession weighed on stocks.

At 12.30pm, the FBM KLCI slid 0.13 points to 1,649.02. Trading volume was 1.24 billion shares valued at RM713.97mil. There were 331 gainers versus 276 decliners and 381 counters unchanged.

Among KLCI-linked counters, Maybank stocks rose four sen to RM9.27, Petronas Chemicals gained two sen to RM9.05 and Digi added two sen to RM4.60.

Declining stocks included Tenaga Nasional sliding six sen to RM12.70, Genting slipping six sen to RM6.80 and MISC shedding four sen to RM6.68.

On the wider exchange, most active counters were Bumi Armada rising 0.5 sen to 20 sen, Sapura Energy slipping 0.5 sen to 34 sen and Naim climbing 1.5 sen to RM1.18.

Key Asian markets showed mixed results with China's markets see continued selling pressure.

The Shanghai Composite Index fell 1% and the CSI300 slid 0.6% while Hong Kong's Hang Seng rose 0.1%.

Japan's Nikkei however jumped 2% and South Korea's Kospi lifted 0.25%.

Oil prices rose on supply cuts although a recovery was capped by signs of economic slowdown. US crude gained 47 cents to US$59.29 a barrel and Brent crude gained 16 cents to US$67.37 a barrel.

In currencies, the ringgit was 0.1% higher against the greenback at 4.0665. It rose 0.25% aginst the pound sterling at 5.3609 and was little changed against the Singapore dollar at 3.0130.