​KLCI falls at midday as cautious sentiments prevail

By ALIFAH ZAINUDDIN

THE benchmark Bursa Malaysia Kuala Lumpur Composite Index (KLCI) traded lower in the morning session as market sentiments in Asia were broadly cautious as investors awaited the US April employment report.

At 12.35pm, the local index was seven points or 0.38% down at 1,844.78, against yesterday’s close of 1,851.80. The KLCI opened slightly lower at 1,851.24 and rallied between 1,843.74 and 1,852.75 before the midday break.

Market breadth was negative as losers led gainers 466 to 229, while 338 counters were unchanged and 822 untraded.

Among the top decliners were consumer stocks Fraser & Neave Holdings Bhd, Carlsberg Brewery Malaysia Bhd and Nestle Malaysia Bhd. The list also included township developer Ibraco Bhd and Hong Leong Financial Group Bhd.

Top gainers were Chin Teck Plantations Bhd, United Plantations Bhd, Negri Sembilan Oil Palms Bhd, Allianz Malaysia Bhd and Hartalega Holdings Bhd.