Friday 29 Mar 2024
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KUALA LUMPUR (April 20): The FBM KLCI fell in early trade this morning as the bearish undertone at the local market prevailed and dampened investor sentiment.

At 9.10am, the FBM KLCI fell 2.10 points to 1,736.85.

The top losers included Maxis Bhd, Genting Bhd, Iskandar Waterfront City Bhd, Petron Malaysia Refining & Marketing Bhd, Alliance Financial Group Bhd, Genting Malaysia Bhd, Public Bank Bhd, IJM Plantations Bhd and Tong Herr Resources Bhd.

Asian stocks may slip for a second consecutive day on Thursday as a weak Wall Street and declining commodity prices, especially for oil, prompted investors to trim their exposure to risky assets, according to Reuters.

With the outcome of the French presidential elections due at the weekend, markets are set to trade in well worn trading ranges, barring any major data surprises in Asia, it said.

JF Apex Securities Research in a market preview today said US markets declined overnight dragged by energy counters after oil prices dropped.

In contrast, it said European stocks surged led by banking and basic resources counters.

“On the local market, the FBM KLCI shed 1.65 points to 1738.95 points.

“Following the mixed performance in the US and Europe, the FBM KLCI could remain sideway above its support of 1730 points,” it said.

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