Friday 19 Apr 2024
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KUALA LUMPUR (June 9): The FBM KLCI opened lower today amidst subdued regional markets.

At 9am, the FBM KLCI fell 1.92 points to 1,737.53.

Newly-listed Dolphin International Bhd made an impressive start and rose 12.5% in active trade. The stock rose 8.5 sen to 76.5 sen with 8.04 million shares done.

The top losers in early trade included Genting Plantations Bhd, Carlsberg Brewery (M) Bhd, Kuala Lumpur Kepong Bhd, Petronas Dagangan  Bhd, Cahya Mata Sarawak Bhd, KPJ Healthcare Bhd, Aeon Credit Services (M) Bhd, Hong Leong Bank Bhd, Lii Hen Industries Bhd, IJM Corporation Bhd and Telekom Malaysia Bhd.

Asia shares were subdued on Tuesday while the dollar relapsed as investors raced to book profits on its post-payroll gains despite all the talk of a U.S. rate rise as early as September, according to Reuters.

Japan's Nikkei eased 0.7 percent and Australian stocks were barely changed. MSCI's broadest index of Asia-Pacific shares outside Japan was a fraction firmer having touched a 10-week low on Monday, it said.

JF Apex Securities Research in a market preview today said that US markets declined after higher bond yields and expectation of interest rate hike after Friday's strong employment data.

It said European stocks also ended lower following geopolitical tensions in Turkey, ongoing sanctions of Russia and Greece's debt talks to resume this week.

“On the local market, the FBM KLCI dropped 5.88 points to 1739.45 points. Asian markets could react to China's May inflation data released later today.

“We expect the FBM KLCI to remain lackluster with immediate support at 1,730 points,” it said.

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