Thursday 28 Mar 2024
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KUALA LUMPUR (May 7): The FBM KLCI fell in early trade today in line with the selloff at most regional markets following the overnight dip at Wall Street and global markets.

At 9am, the FBM KLCI fell 12.65 points to 1,808.32.

The top losers included British American Tobacco (M) Bhd, Petronas Gas Bhd, Hong Leong Financial Group Bhd, Petronas Dagangan Bhd, PPB Group Bhd, UMW Holdings Bhd, Genting Bhd, Public Bank Bhd, Lafarge Malaysia Bhd and CIMB Group Holdings Bhd.

Asian stocks slipped early on Thursday, taking a lead from weaker Wall Street, while a continuing rise in euro zone debt yields amid a global bond rout kept the euro hovering at a two-month peak versus the dollar, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4 percent. Australian shares shed 1.2 percent and South Korea's Kospi also fell, it said.

JF Apex Securities Research in a  market preview today said US stocks ended lower following higher bond yields and oil prices as well as anticipation of weaker jobs report due tomorrow.

Meanwhile, it said European markets closed higher as the euro rallied against the US dollar.

“On the local market, the FBM KLCI lost 6.45 points to 1820.97 points.

“Following the recent selldown, we expect the index to consolidate and hover above 1820 points with support from the 200-day moving average,” it said.

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