KUALA LUMPUR : Blue chips surrendered all the earlier day's additions in early Wednesday exchange, in accordance with the key Asian markets, while the ringgit slipped against the US dollar, bringing about additional uneasiness among financial specialists.
At 9.44am, the KLCI was down 3.31 focuses or 0.2% to 1,665.41. Turnover was 349.44 million shares esteemed at RM140.58mil. There were 161 gainers, 236 failures and 274 counters unaltered.
The ringgit slipped against the US dollar to 4.1830, down 0.31% from the earlier day's end of 4.1700. A debilitating ringgit has hosed general market feeling and exchanging volumes are dull.
Kenanga Investment Bank Research said because of the declining exchanging volume, the overbought condition seen by Stochastic marker is recommending that upside could be restricted from here. "Combined with developing vulnerabilities in front of the US FOMC meeting this Wednesday, speculators will be particularly kept under control while anticipating more signs of the US Fed financing cost climb choice.
"We keep up our view that the FBM KLCI will exchange languidly inside 1,642-1,670 this week. Resistance level remain seen at 1,670 (R1)/1,680 (R2) while backing are topped at 1,650 (S1)/1,643 (S2)," it said.
The exploration house said its present exchanging system was "Purchase on-Weakness" with a perfect purchasing zone set at 1,625 and underneath and also an "Offer on Strength" at above 1,715 level.
Reuters reported unrefined prospects crept up on Wednesday, with speculators sitting tight for talks between OPEC makers and other oil exporters on checking yield to end an overabundance in the worldwide market.
Brent unrefined was up nine pennies at US$52.50 a barrel at 0012 GMT. It fell 73 pennies, or 1.4%, to close at US$52.41 a barrel on Tuesday, withdrawing from a one-year high of US$53.73 hit on Monday.
US West Texas Intermediate (WTI) unrefined had increased three pennies to US$50.82 a barrel. It dropped 56 pennies, or 1%, to settle the past session at US$50.79.
BAT fell the most, down 58 sen to RM48.70 while Hong Leong Bank lost six sen to RM13.14.
Batu Kawan fell the most among the ranch stocks, down 14 sento RM18 while PPB Group lost six sen to RM16.04.
Lafarge Cement was down 13 sen to RM8, GoldIS lost nine sen to RM2.59 and KESM eight sen bring down at RM7.85.
DKSH was the top gainer, adding 34 sen to RM6.45 while Latitude Tree rose 14 sen to RM4.86, Kim Hin and Lii Hen added 10 sen each to RM3.14 and RM1.74 while Ajinomoto increased eight sen to RM13.76.
Lay Hong bounced six sen to 87 sen after its one-into-10 share split, reward issue and profit went ex.
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