Investors take profit ahead of Christmas holiday

KUALA LUMPUR:The FBM KLCI remained in the red at midday as investors opted to take profit on the eve of Christmas following yesterday's strong rebound.

This came despite regional shares being generally optimistic over a free-trade deal being stuck between Britain and the EU, which alleviated concerns of trade disruptions caused by Brexit.

At 12.30pm, the benchmark index was down 4.96 points to 1,642.54, holding above a technical support of 1,640 pegged by some analysts.

Among the market heavyweights, Tenaga fell four sen to RM10.64, Hartalega was down 18 sen to RM12.54, Genting dropped nine sen toRM4.44 and Supermax slid 10 sen to RM6.82.

Meanwhile, Nestle rose 40 sen to RM138.88, KL Kepong added 22 sen to RM24.22 and Press Metal climbed nine sne to RM8.

Top actives were AT Systemization up 2.5 sen to 19 sen, M&G rising 12.5 sen to 20 sen and Iris gaining four sen to 42 sen.

Energy counters established a firmer footing after crude oil prices bounced higher on the Brexit deal and a drawdown in US inventories.

Brent crude was 49 cents higher to US$51.69 a barrel and WTI crude rose 40 cents to US$48.52 a barrel.

The Bursa Malaysia Energy Index was seen rising 0.3% to 887.15 amid cautious gains on the former prices.

Among the gainers, Hibiscus Petroleum rose 0.5 sen to 58.5 sen, Dayang gained two sen to RM1.17 and Scomi Energy added 1.5 sen to 10 sen.

In Asia, Japan was up 0.4% while China's benchmark index was down 0.2%, weighed down by news of an antitrust investigation against Alibaba Group. Hong Kong's Hang Seng however was 0.2% firmer.

South Korea's Kospi jumped 1.2% and Australia's ASX 200 was up 0.3%.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3

Bursa Malaysia , FBM KLCI , equities


Next In Business News

7-Eleven Malaysia settles suit against Dego�
KAB appoints Dr Ong Peng Su as new chairman
Citi to exit retail banking in 13 markets, including Malaysia
NWP shareholders calls for EGM to replace directors
WZ Satu bags RM243mil job from Malaysian Refining Co
Khazanah raises RM312mil from TM share placement
FBM KLCI ends higher despite negative broad-market breadth
Tricor apologises for Maybank AGM rescheduling
CIMB Group underlying business proves resilient in FY20 despite pandemic effects
Pertama Digital increases court bail limit to RM500k via eJamin

Stories You'll Enjoy