KLCI edges marginally lower in early trade

opening_market_down_theedgemarkets

-A +A

KUALA LUMPUR (June 17): The FBM KLCI edged lower in early trade today as a lack fresh catalysts appeared to weigh on investir sentiment despite the uptrend at most global markets.

At 9.05am, the FBM KLCI was down 0.05 points to 1,722.19.

The top losers included Hume Industries Bhd, Astro Malaysia Bhd, Zecon Bhd, Felda Global Ventures Holdings Bhd, IHH Healthcare Bhd, Axiata Group Bhd and MMC Corporation Bhd.

Asia shares inched higher while the dollar held firm on Wednesday as investors awaited the Federal Reserve's latest take on the U.S. economy and interest rates as almost a welcome diversion to the endless wrangling over Greece.

A rally on Wall Street helped Japan's Nikkei gain 0.2 percent, while Australia's market rose 0.4 percent.

JF Apex Securities Research in a market preview today said that US stocks ended higher after the Federal Reserve's two-day meeting began as investors look for hints of interest rate hike.

Similarly, it said European markets gained despite the collapse of Greece debt talks.

“On the local market, the FBM KLCI was flat after adding 0.08 points to 1722.24 points.

“The index could stage a rebound after gains in the US and Europe. However, investors might be spooked by China's plunge yesterday,” it said.