Saturday 20 Apr 2024
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KUALA LUMPUR (Aug 26): The FBM KLCI fell in early trade today, dragged by losses at Petronas-linked stocks and key blue chips, in line with the dip at most regional markets.

At 9.01am, the FBM KLCI fell 5.760 points to 1,674.60.

The early decliners included Kuala Lumpur Kepong Bhd, Petronas Dagangan Bhd, Petronas Gas Bhd, PPB Group Bhd, UMW Holdings Bdh, Telekom Malaysia Bhd, Petronas Chemicals Group Bhd and MISC Bhd.

Caution ahead of a speech by Federal Reserve Chair Janet Yellen's speech at the annual gathering of central bankers in Jackson Hole, Wyoming, limited movements across global markets on Friday, according to Reuters.

Asian stocks tracked an overnight dip on Wall Street and edged down early in the session, while geopolitical tensions helped shore up crude oil prices, it said.

JF Apex Securities Research in a market preview today said US markets closed lower overnight led by healthcare counters as investors wait for a speech from Federal Reserve Chair Janet Yellen later today.

It said that similarly, European stocks declined after being weighed down by automotive, mining and healthcare counters following investors' cautious mood ahead of the Yellen's speech.

“On the local front, the FBM KLCI shed 1.76 points to 1680.30 points.

“Following the negative performance from both the US and Europe, the FBM KLCI could remain pressured towards its support level of 1675 points,” it said.

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