Friday 29 Mar 2024
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KUALA LUMPUR (Nov 28): The FBM KLCI fell in early trade today, tracking regional markets, dragged by losses including at Tenaga Nasional Bhd.

At 9.05am, the FBM KLCI dropped 1.96 points to 1,683.01.

Asian shares dithered on Wednesday and the dollar jumped to a near 1-1/2-year top as risk assets rowed back amid conflicting signals on prospects for de-escalating the Sino-U.S. trade dispute, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was last flat with Australian stocks the biggest drag, it said.

Hong Leong IB Research in a traders’ brief said in the US, the market volatility will remain over the near term ahead of the Trump-Xi trade discussion in the upcoming G20 summit.

“Also, few other major events such as OPEC (6 Dec) and FOMC (18-19 Dec) meetings will be monitored closely for further clues on the market direction moving forward.

“On the local front, we could expect mild bargain hunting activities to emerge among bashed down stocks, tracking the positive rebound on Wall Street. 

“However, the rebound are likely to be short lived as we are going through a subdued reporting season, as most of the corporate earnings are weaker-than-expected,” it said.

Among the top losers were Tenaga, Fraser & Neave Holdings Bhd, Scientex Bhd, Hartalega Holdings Bhd, Pentamaster Corp Bhd, MMS Ventures Bhd, IHH Healthcare Bhd, Magnum Bhd, Rubberex Corp (M) Bhd and Prestar Resources Bhd.

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