KLCI slips into the red, Genting, UMW weigh

KUALA LUMPUR: Malaysia's FBM KLCI fell at the start of trade on
Thursday on mild profit taking and after the economy grew at a
lower-than-expected 4.1% in the first quarter ended March 31.
At
9.01am, the KLCI was down 1.73 points to 1,781.30. Turnover was 73.61
million shares valued at RM21.49mil. There were 138 gainers, 47 losers
and 141 counters.
JF Apex Research
said despite the KLCI had closed down 5.40 points to 1,783 on Wednesday
on profit taking, investor sentiment could be supported by the firmer
Wall Street.
"Following the optimism in the US, we expect the
local market to be positive today. The KLCI could re-test the resistance
of 1,800," it said.
The research house said index-linked stocks
and GLCs might see some trading interest after Malaysia's economy grew
at a lower-than-expected 4.1% in the first quarter and the announcement
of Prime Minister Datuk Seri Najib Tun Razak's new Cabinet line-up for his continuity of ETP.
BAT fell 32 sen to RM64.08 and F&N eight sen to RM17.92 in thin trade but Carklsberg rose six sen to RM15.70.
HLFG lost 26 sen to RM15.56, Genting Bhd 12 sen to RM10.78 and UMW 10 sen to RM13.92.
Among plantations, KL Kepong lost 20 sen to RM21.74 and Genting Plantations 10 sen to RM8.90.
Hartalega was the top gainer, rising 14 sen to RM5.80 with 300 shares done. Petronas Dagangan added 12 sen to RM25 and IJM six sen to RM5.90.