FBM KLCI Reversed Earlier Gains and Remained in Red at Mid Day

Bursa Malaysia extended it losing streak and ended the Wednesday morning trading session in red with the benchmark index FBM KLCI surrendered 4.81 points or -0.33% at 1,471.57.

At 9:00 am, the main index opened unchanged at 1,476.39 vis-a-vis yesterday’s close of 1,476.38.

The index swinged into positive territory for the first hour of the morning session and then headed southward and deepened its losses towards the end of morning trading session. The first hour of upswing movement was buoyed by bargain-hunting. The main was then dragged by energy stocks as well as plantations stocks by easing 0.33% lower.

During the morning trading session, the index was traded in the range of 1,470.49 – 1,479.95.

Meanwhile, on the broader market exhibited negative breadth with decliners outnumbered gainers 425 to 345, while 442 counters were unchanged.

Trading volume and value were registered at 2.057 billion units and RM1.112 billion respectively.

Top five active counters for the morning session My EG Services, Sapura Energy, Velesto Energy, Leform, Ta Win Holdings.

Top five gainers were Fraser & Neave, Heineken Malaysia, Hextar Technologies Solutions, Carlsberg Brewery Malaysia, Greatech Technology.

Whilst top five decliners were Chin Tek Plantations, Imaspro Corporation, Hong Leong Capital, Rhong Khen International, Hong Leong Bank.

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