KL shares mixed in early trade

Stocks on Bursa Malaysia were mixed in the early session today on the back of lacklustre performance on Wall Street overnight, dealers said.

Thirty minutes after trading, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.7 point lower at 1,830.6 after opening at 1,831.8.

Advancers led gainers 199 to 173, with 200 counters unchanged, 981 untraded and 26 others suspended.

Turnover amounted to 277.88 million shares worth RM139.6 million.

On the scoreboard, the Finance Index fell 38.621 points to 16,759.64, the Plantation Index declined 29.91 points to 8,684.72 and the Industrial Index was 2.33 points higher at 3,102.15.

The FBM Emas Index slipped six points to 12,672.3, the FBMT100 Index declined 7.9 points to 12,379.42, the FBM Ace dipped 4.23 points to 5,958.45, with the FBM 70 decreasing 21.7 points to 14,085.91.

HwangDBS Vickers Research said investors may be looking forward to a positive macroeconomic report when the industrial production index data is out at around noon.

The research house said it expects the local bourse to extend its technical rebound riding on follow-through bargain hunting activity.

Technically, the key FBM KLCI would probably recover further towards the immediate resistance line of 1,840 ahead.

Among actives, Iris rose one sen to 39 sen, China Stationery added 1.5 sen to 21 sen and Technodex increased half a sen to 18.5 sen.

Of the heavyweights, Maybank gained four sen to RM9.85 but Tenaga fell 10 sen to RM11.70 and Axiata lost one sen to RM6.76.-- Bernama

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