KUALA LUMPUR: The benchmark FBM KLCI is likely to continue its consolidation pattern amid a dearth of fresh leads today, analysts said.
“Investors may have to look for rotational plays to be their investment ideas,” a research house said in a morning note.
The FBM KLCI fell 10.99 points to 1,463.76 on Thursday midday trade.
Wall Street also finished weaker last night.
Key US bellwethers lost between 0.2% and 0.6% at the closing bell as some investors were pessimistic and anticipated that the economic outlook could worsen ahead.
Meanwhile, stock markets in Japan, China, Hong Kong and South Korea are closed today due to the Mid-Autumn Festival.
Taiwan’s Taiex Index rose 0.15% to 8,209.04 and Australia’s S&P/ASX 200 Index gained 0.07% to 4,628.30.
Singapore’s Straits Times Index slipped 0.09% to 3,093.23.
At Bursa Malaysia, 152 counters were up, 479 were down while 260 remained unchanged. There were 553.8 million shares done at a total value of RM609.9 million.
Among the top losers were Genting which fell 44 sen to RM9.94, British American Tobacco fell 34 sen to RM47.46 and KPJ shed 15 sen to RM3.21.
Glove makers were also major losers today with Top Glove falling 24 sen to RM5.06, Hartalega shed 24 sen to RM4.06 and Supermax lost 13 sen to RM4.06.
Among the heavyweights IOI Corp lost 8 sen to RM5.52, Maybank shed 5 sen to RM8.63 and CIMB slipped 4 sen to RM8.25.
In terms of corporate news flows, SP Setia is scheduled to announce their latest quarter financial results later in the evening.
Nymex crude oil was 2 cents lower at US$74.69 per barrel.
The ringgit was quoted at 3.0915 to the US dollar.
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