KLCI extends poor start to September, tracks fall at regional markets

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KUALA LUMPUR (Sept 4): The FBM KLCI extended its poor start to September this morning, tracking the fall at most regional markets in early trade Tuesday.

At 9.10am, the FBM KLCI fell 2.10 points to 1,811.57.

The early losers included Kuala Lumpur Kepong Bhd, Hengyuan Refining Company Bhd, Heineken Malaysia Bhd, Dialog Group Bhd, Digi.Com Bhd, Press Metal Aluminium Holdings Bhd, UOA Development Bhd, Datasonic Group Bhd and Taliworks Corp Bhd.

Asian shares fell in early trade on Tuesday, amid growing concerns over escalating international trade disputes and as emergency austerity measures in Argentina highlighted turbulence in emerging markets, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2 percent after European shares ended mostly flat, though a weak British pound helped to lift London's blue-chip FTSE almost 1 percent, it said.

JF Apex Securities Research in a market preview said US markets were closed for Labour Day holiday.

It said European stocks ended mixed amid concerns on the ongoing trade war between the US and China.

“On the local market, the FBM KLCI lost 6.08 points to 1813.58 points.

“Following the recent pullback, the FBM KLCI could remain lacklustre and hover sideways with support at 1800 points,” it said.