Friday 26 Apr 2024
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KUALA LUMPUR (Sept 25): The FBM KLCI got off to a muted start Wednesday, tracking subdued regional markets.

At 9.05am, the FBM KLCI shed 0.23 points to 1,592.10.

The early decliners included Hong Leong Bank Bhd, Public Bank Bhd, British American Tobacco (M) Bhd, Pentamaster Corp Bhd, Press Metal Aluminium Holdings Bhd, ViTrox Corp Bhd, George Kent (M) Bhd and Maxis Bhd.

Asian stocks fell on Wednesday after the U.S. lawmakers called for an impeachment inquiry into President Donald Trump, increasing the prospects of prolonged political uncertainty in the world's largest economy, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2%, Japan's Nikkei fell 0.55%, while Australian shares fell 0.66%, it said.

CGS-CIMB Retail Research said the FBMKLCI remained tepid yesterday on the lack of strong buying impetus.

“The benchmark FBMKLCI has been trading sideways for the past month or so, trading between 1,580 and 1,620.

“Until a breakout of either side, one can expect more see-saw movements in the days ahead. Resistance: 1,620 & 1,640. Support: 1,580 & 1,572,” it said.

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