Friday 29 Mar 2024
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KUALA LUMPUR (Sept 26): The FBM KLCI paused in early trade today in line with cautious start at most regional markets, weighed by select blue chips.

At 9.01am, the FBM KLCI shed 0.46 points to 1,670.53.

The early decliners included PPB Group Bhd, British Americam Tobacco (M) Bhd, Oriental Holdings Bhd, Genting Bhd, Pos Malaysia Bhd, SP Setia Bhd, Tenaga Nasional Bhd and Silk Holdings Bhd.

Asian shares began the week under a cloud on Monday after losses on Wall Street, as investors' attention turned from central banks to American politics ahead of the first U.S. presidential debate, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1 percent in early trade, while Japan's Nikkei stock index slumped 0.5 percent against the headwinds of a stronger currency, it said.

JF Apex Securities Research in a market preview today said US markets ended lower on Friday led by energy counters after oil prices declined.

It said that similarly, European stocks were negative after slower manufacturing data.

“On the local bourse, the FBM KLCI added 1.33 points to 1670.99 points.

“Following the bearish performance in the US and Europe, the FBM KLCI could take a breather and trend below the resistance of 1675 points after last week's rebound,” it said.

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