Midday Market KLCI remains in red on resurgent external worries, lack of fresh leads

Midday Market KLCI remains in red on resurgent external worries, lack of fresh leads
Business & Markets 2013
Written by Surin Murugiah of theedgemalaysia.com
Wednesday, 05 June 2013 12:49


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KUALA LUMPUR (June 5): The FBM KLCI remained in the red at the midday break amidst choppy trade, in line with key regional markets that slipped on renewed global economic uncertainties as well as lack of fresh local leads.

At 12.30pm, the index shed 0.01 point to 1,776.73.

Losers led gainers by 368 to 339, while 276 counters traded unchanged. Volume was 1.23 billion shares valued at RM996.23 million.

Among the top losers in the morning session were BAT, Aeon, KLK, Cahya Mata Sarawak, Carlsberg, Iretex, Dutch Lady, Nestle and Genting PLANTATION []s.

The gainers included HLFG, Tahps, Tasek, Timecom, Petronas Gas, Panasonic, AFG, UMW, Tan Chong and Hartalega.

MAS was the most actively traded counter with 258.87 million shares done. The stock fell 2.5 sen to 32 sen.

The other actives included DVM, Astral Supreme, Luster, Ingenco, Tiger Synergy and Benalec.

Asian shares slipped to their lowest this year on Wednesday as uncertainty over when the U.S. Federal Reserve would begin scaling down its massive stimulus programme fanned worries about funds flowing out of the region, according to Reuters.

The mood was soured by a drop in U.S. stocks overnight on worries over a shift in the Fed's current policy, but the prospect of less monetary stimulus underpinned the dollar, it said.