KLCI dips 0.45%, tracks regional losses

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KUALA LUMPUR (June 13): The FBM KLCI fell 0.45% in early trade this morning, dragged by index-linked heavyweigts, trackinbg losses at most regional markets.

At 9.05am, the FBM KLCI  fell 8.00 points to 1,756.16.

The early losers included Public Bank Bhd, Tenaga Nasional Bhd, Carlsberg Brewery Malaysia Bhd, UMW Holdings Bhd, Cahya Mata Sarawak Bhd, Kuala Lumpur Kepong Bhd, BSL Corp Bhd, Malaysia Airports Holdings Bhd, Hap Seng Consolidated Bhd and Heineken Malaysia Bhd.

Asian shares edged slightly lower on Wednesday as investors looked to the Federal Reserve policy decision and any clues it might give on future rate hikes, shifting focus away from the historic U.S.-North Korea summit in Singapore, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.15 percent in early trade, giving up the slim gains they made following Tuesday's meeting between U.S. President Donald Trump and North Korean leader Kim Jong Un, it said.

JF Apex Securities Research in a market preview said US markets ended flat overnight after US-North Korea meeting in Singapore while investors wait for the Federal Reserve's decision on interest rate hike.

It said that earlier, European stocks closed slightly lower prior to the European Central Bank's meeting tomorrow to decide on winding down it bond buying programme.

“On the local market, the FBM KLCI lost 11.64 points to 1764.16 points following a last minute plunge.

“Following the flat performance in the US and Europe, the FBM KLCI is expected to remain pressured below the resistance of 1800 points with support at 1750 points,” it said.