KUALA LUMPUR: The FBM KLCI traded relatively unchanged in early trade on Tuesday after seeing gains amid a return of foreign investor interest the previous day.Asian markets were sluggish (Stock Market Malaysia), tracking the negative performance on Wall Street overnight as it pulled back from a record high amid talks that proposed corporate tax cuts may be gradual rather than immediate.
At 9.20am (Share Market Klse),
the KLCI was down by 0.11 points to 1,748.24 points. Total volume was 487.85 million shares with a value of RM155.67mil
Hong Leong Financial Group weighed on the index (Daily Stock Picks), shaving off 32 sen to RM16.60. KL Kepong was also in the red, dipping 12 sen to RM24.48.
Other laggards included Tenaga Nasional, which lost two sen to RM14.78.
Genting rose one sen to RM9.17 while Genting Malaysia gained three sen to RM5.14.
Meanwhile, British American Tobacco continued on its ascent after losses from the previous week (Bursa Malaysia Market), putting on four sen to RM40.54.
Oil prices were stable, supported by a tightening market due to ongoing Opec-led efforts to cut supplies, although the prospect of rising US shale outout dragged, Reuters reported.
US light oil dropped 10 cents to US$54.05 and Brent crude fell seven cents to US$60.83.
In currencies, the ringgit was 0.11% stronger at 4.2332 (Bursa Malaysia Market Price). It was 0.17% weaker against the pound sterling at 5.5867 and 0.06% weaker against the Singapore dollar at 3.1088.
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