KLCI extends loss, dips 0.21%

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KUALA LUMPUR (Aug 14): The FBM KLCI opened in the negative zone this morning, tracking the overnight losses at most global markets, dragged by key index-linked blue chips.

At 9.05am, the FBM KLCI  fell 3.68 points to 1,779.66.

The early losers included Petronas Dagangan Bhd, Kuala lumpur Kepong Bhd, Petronas Gas Bhd, Carlsberg Brewery Malaysia Bhd, Heineken Malaysia Bhd, Hong Leong Bank Bhd, Malaysia Airports Holdings Bhd, IHH Healthcare Bhd, Hengyuan Refining Company Bhd and Public Bank Bhd.

Asia share markets tried to regain their footing on Tuesday as tremors from the collapse of the Turkish lira ebbed a little and Wall Street proved resilient to the shockwaves, according to Reuters.

Japan's Nikkei led the early running with a gain of 1.0 percent, while Australia added 0.4 percent, it said.

JF Apex Securities Research in a market preview said US markets declined overnight following Turkey's economic crisis which saw its currency hitting record low against the US dollar.

It said that similarly, European stocks tumbled on concerns that Turkey's forex exchange crisis could spread to the region.

“On the local market, the FBM KLCI plunged 22.41 points to 1783.34 points on foreign selling.

“Following the bearish performance in global markets, the FBM KLCI could extend its selldown towards the support of 1750 points,” it said.