KLCI dips in early trade


  • Markets
  • Wednesday, 29 Dec 2021

KUALA LUMPUR: The FBM KLCI dipped in early trade this morning as key-index linked banking stocks retreated.

At 9.12am, the benchmark FBM KLCI fell 1.94 points to 1,537.83 from Tuesday’s close of 1,539.89.

In a note today, Malacca Securities expects mild profit taking activities to emerge on the local front given the mixed feeling on the Omicron worries.

“Nevertheless, market trading activities might recover with the new developments on the share trading stamp duty and that should limit the downside risk on the broader market.

“On the commodity markets, the Brent oil and the crude palm oil have been trading firmly higher over the past few days,” the research house said.

Among the heavyweights, Maybank fell two sen to RM8.29, CIMB shed four sen to RM5.38, Genting lost four sen to RM4.69, Public Bank declined one sen to RM4.17 and Petronas Gas fell two sen to RM17.48.

Hartalega added six sen to RM5.71, IHH gained five sen to RM6.81, Top Glove rose three sen to RM2.40 and Tenaga climbed two sen to RM9.37.

On the broader market, Dutch Lady surged 98 sen to RM34.50, MPI added 20 sen to RM50, New Hoong Fatt rose 15 sen to RM2.25 and Bursa Malaysia gained 12 sen to RM6.58.

KESM shed 14 sen to RM12.10, Hong Seng fell 10 sen to RM2.86, ViTrox declined 10 sen to RM20.12 and Genetec gave up 10 sen to RM37.90.

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