=MARKET BUZZ: Malaysia's KLCI Little Changed In Early Trade; 1660-1700 Tipped
KUALA LUMPUR (Jul 12) -- Malaysia's benchmark KLCI little changed in early trade at 1688.61. Asian shares trading mixed. Hartalega Holdings leads index gainers with +2.3% to MYR5.90. In broader market, laggards outnumber gainers 209-to-165; about 327 million shares changed hands so far in deals worth MYR154 million ahead of May industrial output data due at noon. A Nikkei Markets poll of economists predicts a 3% on-year growth in industrial production, lower than April's 4.6%. "We opine that market tone could remain tepid and stocks may extend its consolidation phase over the near term," says Hong Leong Investment Bank in investor note; tips index to be range-bound within 1660-1700 band. "Despite the rebound in the KLCI yesterday, the key index continues to stay below the SMA200 and the MACD Line is still below zero," adds house.
- By Chong Sin Hao; Dave.Chong@nikkeinewsrise.com; +60320267363
- Edited By Abhrajit Gangopadhyay
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