KUALA LUMPUR (Sept 30): The FBM KLCI dipped in early trade on Tuesdau as regional markets stayed tentative due the civil unrest in Hong Kong.
At 9am, the FBM KLCI fell 1.78 points to 1,844.56.
The top losers in early trade included BAT, Petronas Gas, KLK, HLFG, MAHB, Hong Leong Bank, Pintaras, Lafarge Malaysia and Pos Malaysia.
Regionally, Asian markets were in hesitant mood on Tuesday as investors wondered what China's response would be to civil unrest in Hong Kong, while the U.S. dollar was on track to post its biggest monthly gain in well over a year, according to Reuters.
Tens of thousands of pro-democracy protesters blocked Hong Kong streets in the early hours on Tuesday, in one of the biggest political challenges to Beijing since the Tiananmen Square crackdown 25 years ago, it said.
BIMB Securities Research said Asian bourses were rather weak as Hong Kong’s HSI fell 1.9% or 449 points at 23,229 cascading down to other regional markets as well on Monday.
Nonetheless, it said both Malaysia and Indonesia rebounded on oversold position as both indices charted positive returns.
“The FBM KLCI was up 5.84 points at 1,846.34 mainly attributed to buying support from the local institutions.
“Foreign funds continue with their selling as there was a net outflow of RM15 million yesterday.
“We expect some weaknesses on the index today with immediate support at the 1,840 level,” it said.