Friday 29 Mar 2024
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KUALA LUMPUR (Feb 10): The FBM KLCI dipped further into negative territory at market close, falling 1.1% amid the general dampened sentiment in global markets.

At 5pm, the benchmark index declined 18.05 points or 1.1% to 1,644.41.

JF Apex Securities said the fall was largely anticipated and was in line with the decline in global equities.

“US equities closed near flatline Tuesday, after a choppy trading session, as US oil prices seesawed and investors looked ahead to Federal Reserve chair Janet Yellen’s testimony.

“Meanwhile, European stocks slid to close sharply lower as investors remained pessimistic on global economic growth prospects,” said the research house, which sees support for the KLCI at the 1,620 level.

Across the exchange, a total of 887.61 million shares, worth RM1.06 billion, were traded. Market sentiment was bearish, as decliners beat gainers by 506 to 249, while 220 counters were unchanged.

Leading the decliners were blue chips like Kuala Lumpur Kepong Bhd, Malaysia Airports Holdings Bhd and British American Tobacco (Malaysia) Bhd, while gainers were led by Dutch Lady Milk Industries Bhd. The top active stock was Tiger Synergy Bhd.

Across the region, Japan’s Nikkei fell 2.31%, while South Korea’s Kospi gained 1.52%. China stock markets were closed for the Lunar New Year holidays.

According to Bloomberg data, the ringgit strengthened to 4.1243 against the US dollar and traded at 2.9642 against the Singapore dollar.

Brent crude gained 2.3% to US$31.02 per barrel, while West Texas Intermediate (WTI) rose 2.1% to US$28.52 per barrel.

Reuters said Asian stocks fell today on growing concerns about the health of the world's banks, particularly in Europe, pushing investors into safer assets such as the yen, which stood near a 15-month high versus the dollar.

Australian stocks touched a 2-1/2-year trough and MSCI's broadest index of Asia-Pacific shares outside Japan, MIAPJ0000PUS, fell 0.4%.

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