Friday 29 Mar 2024
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KUALA LUMPUR (Oct 16): Malaysia's FBM KLCI fell 12.22 points or 0.7% as Asian stock markets declined. Asian equities fell on overnight US market losses due to world economic growth concerns.

The KLCI was traded at 1,774.62 at 9.09am as stocks like Hong Leong Financial Group Bhd and Kuala Lumpur Kepong Bhd fell.

"The FBM KLCI could see another down day, taking a cue from the slide in most major equity markets last night.

"On Wall Street, heavy selling hit stocks early in the trading session, driven by fears on the "perfect storm", i.e. global economic slowdown, deflationary pressures in Europe and slump in oil prices," Public Investment Bank Bhd wrote in a note today.

Bursa Malaysia saw some 209 million shares worth RM83 million changed hands. There were  21 gainers versus 495 decliners.

The top gainer was United Plantations Bhd while leading decliner was Hong Leong Financial.

The most-active stock was Sumatec Resources Bhd.
 
Across Asia, Japan's Nikkei 225 fell 2.42% while South Korea's Kospi dropped 0.8%. Austalia's S&P/ASX 200 was 1.23% lower

Reuters reported that a sharp slide in Japanese stocks led Asian equities down on Thursday, as a maelstrom of concern about global growth drove US Treasury yields lower and weighed on the dollar.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 percent in early trade.

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