[ad_1]
KUALA LUMPUR (Nov. 27): The KLCI FBM lost 0.95% today after Morgan Stanley reduced Malaysia to "underweight" with an implied 3% decline as the market tends to underperform rising emerging markets and falling oil prices set at US $ 70 / bbl (RMB 293.55) as profits are still at risk, as fiscal consolidation materializes in infrastructure projects
At 12:30, the FBM KLCI lost 16.19 points to 1685.8.
The losers beat the winners from 560 to 162, while 302 tokens were traded unchanged. The volume was 1.17 billion shares valued at RM 1.27 billion.
The top losers were Nestlé (M) Bhd, British American Tobacco (M) Bhd, Genting Malaysia Bhd, Genting Bhd, Petronas Dagangan Bhd, Batu Kawan Bhd, Kuala Lumpur Kepong Bhd, IJM Bhd Plantations, Aluminum Holdings Bhd Clipboard, Heineken Malaysia Bhd and Brewery Carlsberg Malaysia Bhd.
Assets include Genting Malaysia, Sapura Energy Bhd, Lay Hong Bhd, Tatt Giap Bhd Group, Dagang NeXchange Bhd, My EG Bhd Services, Datasonic Group Bhd and Key Alliance Group Bhd.
The winners include Aeon Credit Service (M) Bhd, Bhd Capital LPI, Bhd Engineering & Equipment (M), Dufu Technology Corp Bhd, Bhd United Plantations, Syariakat Takaful Malaysia Keluarga Bhd and PPB Group Bhd.
Asian stock markets struggled to prolong their global rally on Tuesday, after US President Donald Trump appeared to dash hopes of a trade truce with China, curbing the region's risk appetite , said Reuters.
The Japanese Nikkei managed to gain 0.1%, and Chinese blue chips added 0.6%, he added.
Kenanga IB Research said the Asian markets had virtually closed higher yesterday, as investors tried to buy cheap shares in anticipation of the planned meeting of Trump-Xi this weekend, in the hope of Mitigate the effects of the US-China trade war.
After returning home, the FBM KLCI gained 6.11 points, or 0.36%, to close at 1,701.99.
The research firm said that despite the closure of its 20-day SMA, the technical outlook remains fragile at the moment, as the index is still below other key SMAs.
"However, in case of additional positive development, we will be able to review our position.
"From there, the immediate support levels to be monitored are 1680 (S1) and 1650 (S2) where a break below would complete what is now a potential descending triangle.
"If the market sentiment improved from there, the main resistance levels to look for would be 1,740 (R1) and 1,760 (R2)," he said.
Source link
