Tuesday 23 Apr 2024
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KUALA LUMPUR (May 6): The FBM KLCI extended its lacklustre run this morning in line with the weakness at regional equity markets.

At 9.01am, the FBM KLCI dipped 2.51 points to 1,642.58.

The top losers included British American Tobacco (M) Bhd, Petronas Gas Bhd, Hong Leong Financial Group Bhd, Hong Leong Bank Bhd, Sime Darby Bhd, MISC Bhd, Telekom Malaysia Bhd and CIMB Group Holdings Bhd.

Asian shares wallowed near three-week lows as investors braced for the U.S. payrolls report after other jobs-related data raised some doubts about the seemingly rosy picture on employment conditions in the world's no. 1 economy, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 percent, flirting with its lowest level since mid-April. Japan's Nikkei was down 0.3 percent as markets there resumed trading since closing for holidays on Tuesday, it said.

JF Apex Securities Research in a market preview today said US markets ended mixed overnight as oil price surrendered intraday gains after a wildfire near Canada's oil sands and violence in Libya raised concerns on oil supply.

It said that similarly, European stocks were mixed following a slew of corporate earnings.

“On the local market, the FBM KLCI dropped 12.49 points to 1645.09 points.

“The benchmark index seemed to have found support above 1620 points and might consolidate before staging a rebound,” it said.

 

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