KLCI down amid foreign selling

KLCI down amid foreign selling
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KUALA LUMPUR (Dec 11): The FBM KLCI closed 1.78 points or 0.1% lower as European funds sold Malaysian shares and as investors looked ahead to crucial Malaysian economic and industrial data.

Tomorrow, Malaysia's Statistics Department will announce the nation's October industrial output numbers. The Malaysian Palm Oil Board is also scheduled to announce the industry's November output and inventory data.

At 5pm today, the KLCI settled at 1,719.47 points. "We heard from brokers that some European funds were selling in the afternoon today. It was just normal portfolio adjustment," Areca Capital Sdn Bhd chief executive officer Danny Wong told theedgemarkets.com.

Across Bursa Malaysia, there were 410 gainers versus 398 decliners.

A total of 1.65 billion shares were traded for RM1.97 billion.

Malaysian shares had bucked Asian shares' rise. Japan's Nikkei 225 climbed 0.56% while Hong Kong's Hang Seng rose 1.14%.

Earlier today, Reuters reported that Asian shares were buoyant following strong US payrolls data and better-than-expected Chinese trade figures on Friday.