KUALA LUMPUR (Feb 9): Hap Seng Consolidated Bhd and Astro Malaysia Holdings Bhd were the leading decliners among the FBM KLCI's 30 stocks as the broader market fell after US stocks dropped some 4% overnight.
At 9:31am, Hap Seng Consolidated fell 3.44% to RM8.70 while Astro dropped 3.08% to RM2.52, according to Bloomberg data.
"The overnight US correction should again spill over to the region and local market, with concerns over elevated US bond yields signalling higher inflation risk dampening market tone ahead of the weekend," TA Securities Holdings Bhd wrote in a note today.
At 9:40am, the FBM KLCI fell 22.93 points to 1,816.51 points. Across Bursa Malaysia, KLCI-linked stocks Nestle (M) Bhd and Petronas Gas Bhd led the bourse's decliners list.
Top decliner Nestle dropped 90 sen to RM114.10 followed by Petronas Gas, which fell 56 sen to RM17.44.