Midday Market KLCI pares loss, sentiment remains tepid

Business & Markets 2013
Written by Surin Murugiah of theedgemalaysia.com
Monday, 29 April 2013 12:38
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KUALA LUMPUR (April 29): The FBM KLCI pared some of its losses at
the midday break on Monday, but market sentiment appeared to remain
subdued with the local index remaining in negative territory.
The FBM KLCI was subdued ahead of a holiday-shortened trading
week and the impending thirteenth general election (GE13) on May 5,
after having risen to a fresh record high close last Friday.
At 12.30pm, the FBM KLCI was down 0.26 points to 1,711.03. The
index had earlier dipped to its intra morning low of 1,706.57.
Among the top losers in the morning session were Dutch Lady, KLK,
Petronas Dagangan, Nestle, Aeon Credit, Tasek, Hong Leong
Industries, Jetson and Panasonic.
Luster was the most actively traded counter with 12.6 million shares
done. The stock was unchanged at 9 sen.
The other actives included SapuraKencana, Silver Bird, MNC,
Supermax, TMS, Century Software, Scomi and Compugates.
The top gainers were Top Glove, Petronas Gas, Aeon, Harrisons,
Genting, Country View, JobStreet, UMW and SapuraKencana.
Asian shares inched ahead while the dollar lost ground as investors
counted on easy money from central banks in the euro zone and United
States to offset the risk of further disappointment from global economic
data, according to Reuters.
Activity was sporadic with Japanese markets closed for a holiday and
China off until Thursday. The MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.26 percent, but off a
six-week high touched on Friday, it said.