Investors keep to sidelines in lead up to corporate results


  • Markets
  • Wednesday, 14 Aug 2024

KUALA LUMPUR: The FBM KLCI ended the early session slightly lower as investors turned to caution ahead of corporate results scheduled for release for this month.

The key index was down 2.31 points to 1,607.21, dragged lower by Nestle and PETRONAS Gas.

The broader market registered slightly more gainers than decliners - 469 to 407 - while share turnover was 2.14 billion changing hands for RM1.18bil

Out of the market sectors, utilities was the most improved, followed by healthcare and property.

Out of the laggards, two consumer giants led the decline with Nestle sliding RM1.40 to RM107.60 and Dutch Lady losing 50 sen to RM30.50.

F&N, however, was seen climbing 22 sen to RM29.32, while tech counter MPI added 24 sen to RM36.80. LPI Capital jumped 18 sen to RM12.58.

Top actives were Cape EMS up one sen to 46.5 sen, Oversea flat at 5.5 sen and MYEG up 0.5 sen to 91 sen.

Meanwhile, Asian markets rallied on the back of cooler US producer inflation.

Japan's Nikkei was nearly flat at 36,245 while Singapore's Straits Times rose 0.45% to 3,274.

China's composite index dropped 0.35% to 2,857 while Hong Kong's Hang Seng shed 0.36% to 17,111.

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