KLCI falls lacking in vitality

The FBM KLCI was marginally lower at midday on Thursday on some profit taking, but trading was lacking in vitality as investors stayed on the sidelines in tandem with the mostly muted Asian equities, as oil prices continued to remain in focus.

At 12.30pm, the KLCI was down 0.78 of a point to 1,802.24. Turnover was 848.34 million shares valued at RM851.22mil. There were 255 gainers, 385 decliners and 287 counters unchanged.

JF Apex Research said in a note that it expects the KLCI to hover and consolidate below the resistance of 1,830 points with potential profit taking after yesterday's rally.

Meanwhile, Reuters said Asian stocks and the euro handed back gains and slipped on Thursday after the European Central Bank adopted a hard line on Greece's debt, dealing a major blow to Athens' efforts to secure improved bailout terms with its creditors.

At Bursa Malaysia, Uzma fell nine sen to RM2.06 and Shell eight sen to RM5.42.

E&O fell 11 sen to RM2.26 nd KLCC 13 sen to RM6.92.

UMW fell 14 sen to RM10.84.

Gainers were OWG, up 14 sen to RM1.10, LPI 40 sen to RM20.90 and United Plantations 18 sen to RM24.50.

BAT rose 46 sen to RM67.96, Nestle 40 sen to RM72.80, Dutch Lady 22 sne to RM47.50 and Carlsberg 12 sen to RM11.90.

Nikkei 225 fell 0.88% to 17,523.05

Hong Kong Hang Seng Index rose 0.56% to 24,818.63

Shanghai Stock Exchange Composite Index rose 0.99% to 3,205.55

Taiwan Stock Exchange Weighted Index fell 0.32% to 9,483.60

Korea Stock Exchange KOSPI Index fell 0.63% to 1,950.45

Straits Times Index STI fell 0.42% to 3,403.07

Crude oil rose 29 cents to US$48.74 and Brent 55 cents to US$54.71.

Spot gold rose US$2.29 to US$1,271.64