KLCI slips at midday as investors hold back

By ALIFAH ZAINUDDIN / graphic by TMR

THE benchmark Bursa Malaysia Kuala Lumpur Composite Index (KLCI) ended the morning session in negative territory as investors await on new developments for the upcoming General Election.

At 12.30pm, the local stock market stood at 1,861.46 points, down two points or 0.11% from yesterday’s close of 1,863.46.

The KLCI opened marginally lower at 1,863.06 and rallied between 1,858.72 and 1,864.17 before the midday break.

Market breadth was negative, with 450 losers against 282 gainers, while 366 were unchanged.

Among the top decliners were Dutch Lady Milk Industries Bhd, Ayer Holdings Bhd, Alliance Bank Malaysia Bhd, British American Tobacco (Malaysia) Bhd and Enra Group Bhd.

Top gainers included Nestle (Malaysia) Bhd, Far East Holdings Bhd, Petronas Gas Bhd, Hartalega Holdings Bhd and Southern Steel Bhd.