KLCI lower amid China bond selloff concerns

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KUALA LUMPUR (Nov 24): The FBM KLCI opened lower as China's bond selloff concerns persisted.

At 9am, the KLCI fell 0.89 point to 1,720.38 points. At 9:10am, the index dropped 3.03 points to 1,718.24 points.

"Blue chips should stay range bound in subdued trading due to weak buying momentum, and with most market players sidelined pending fresh leads," TA Securities Holdings Bhd wrote in a note today.

Yesterday, Reuters reported that Chinese shares tumbled on Thursday with the blue-chip index suffering its worst fall in nearly 1½ years as worries about a selloff in the bond market bled into equities.

Today, it was reported that Asian shares hovered below their 10-year peak on Friday while investors viewed Chinese shares with caution after their big fall the previous day.