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The FBM KLCI index lost 5.05 points or 0.28% on Friday. The Finance Index fell 0.13% to 16080.56 points, the Properties Index up 0.41% to 1310.97 points and the Plantation Index down 0.03% to 7784.12 points. The market traded within a range of 5.01 points between an intra-day high of 1818.31 and a low of 1813.30 during the session.
Actively traded stocks include INGENCO, ETITECH, PERISAI, ESCERAM, PRIVA, KNM, DGB, PLABS, TIGER and CAP. Trading volume decreased to 1644.66 mil shares worth RM1820.37 mil as compared to Thursday’s 2442.91 mil shares worth RM1955.08 mil.
Leading Movers were GENM (+7 sen to RM4.19), KLK (+34 sen to RM22.86), PETCHEM (+5 sen to RM5.48), GENTING (+8 sen to RM8.83) and PETDAG (+12 sen to RM19.72). Lagging Movers were ASTRO (-8 sen to RM3.10), BAT (-134 sen to RM68.04), TENAGA (-26 sen to RM14.20), DIGI (-10 sen to RM6.19) and UMW (-16 sen to RM10.72). Market breadth was negative with 354 gainers as compared to 391 losers.
The KLCI ended by 5.05 points lower at 1813.17 on the last trading day of the week, amid weaker sentiment due to rising of tension in the Middle East. The performance of our benchmark index was dragged down by selling in heavyweight counters such as Astro, BAT and Tenaga.
MALAYSIAN shares ended lower on Friday with the Kuala Lumpur Composite Index slipping 5.05 points to close at 1,813.37.
Some 1.64 billion lots, valued at RM1.82 billion were traded. Gainers numbered 354 while losers numbered 391.
INTERNATIONAL COMMODITY NEWS :
Crude oil prices rebounded in Asia on Thursday with events in Yemen offering fresh support as Saudi Arabia and allies bomb Houthi rebel positions and President Abdrabbuh Mansour Hadi hangs onto power. On the New York Mercantile Exchange, WTI crude for May delivery rose 0.99% to $49.70 a barrel. Crude oil futures surged on Wednesday, amid increasing geopolitical risks related to the advance of the Iranian-backed Houthi rebels in Yemen. Global oil prices spiked by more than a dollar on Wednesday afternoon, as reports surfaced that Saudi Arabia is moving heavy military equipment, including artillery to its border with Yemen. The buildup came in response to the seizure of the al-Anad base, a Yemen airbase that had previously been used by U.S. troops in their fight against Al-Qaeda.
TRADING STRATEGY :
BUY GOLD ABOVE 1201 TARGET 1206 1212 SL 1195
SELL GOLD BELOW 1194 TARGET 1189 1183 SL 1200
MARKET UPDATES :
The FBM KLCI index lost 0.68 points or 0.04% on Thursday. The Finance Index increased 0.12% to 16100.75 points, the Properties Index up 0.23% to 1305.57 points and the Plantation Index down 0.27% to 7786.49 points. The market traded within a range of 5.11 points between an intra-day high of 1820.52 and a low of 1815.41 during the session.
STOCK RECOMMENDATION :
BUY KNM GROUP AT 0.700 – 0.705 TARGET 0.750 0.850 SL 0.600
KUALA LUMPUR: #Bluechips ended Friday morning slightly lower in lacklustre trade after the #crudeoil prices retreated and the ringgit weakened against the US dollar while investors decided to stay mostly on the sidelines.
At 12.30pm, the #KLCI was marginally lower by 0.96 of a point or 0.05% to 1,817.46. Turnover was 824.61 million shares valued at RM679.55mil. There were 267 gainers, 330 losers and 352 counters unchanged.
Reuters reported Asian stocks were mixed as rising tensions in the Middle East obscured the investment outlook, while the dollar rebounded.
