KLCI ticks up 0.16%, sentiment stays wary

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KUALA LUMPUR (March 15): The FBM KLCI ticked up 0.16% at midday break today, although overall sentiment at the local market was somewhat wary.

At 12.30pm, the FBM KLCI added 2.57 points to 1,677.09. The index had earlier dipped to a low of 1,672.60.

Losers edged gainers by 298 to 295, while 487 counters traded unchanged. Volume was 2.57 billion shares, valued at RM997.76 million .

The gainers included British American Tobacco (M) Bhd, Time Dotcom Bhd, Apex Healtcare Bhd, United Plantations Bhd, Hong Leong Industries Bhd, Can-One Bhd, Heineken Malaysia Bhd, Bursa Malaysia Bhd, Allianz Malaysia Bhd and Malaysian Pacific Industries Bhd.

The actives included Sapura Energy Bhd, Sino Hua-An International Bhd, Priceworth International Bhd, Bumi Armada Bhd, Borneo Oil Bhd, Perdana Petroleum Teknologi Bhd and Daya Materials Bhd.

Asian stocks stepped ahead on Friday as sentiment improved on a report that more progress has been made in U.S.-China trade talks and after UK lawmakers voted to delay a potentially chaotic exit from the European Unio, according to Reuters.

Chinese Vice Premier Liu He spoke by telephone with U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer, with the two sides making further substantive progress on trade talks, Xinhua news agency said on Friday, it said.

Affin Hwang Capital Research said the FBM KLCI Index also closed flat in the last trading session, up 0.23 points or 0.01%, closing at 1674.75.

“Local market expected to move sideways with rotational play on small cap stock, due to lack of major catalysts to move the market.

“Technically, sentiment remains sluggish as the index continues to trade below all key moving averages (50, 100 and 200 days EMA).

“FBM KLCI Index resuming its short-term downtrend,” the research house said.