Thursday 28 Mar 2024
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KUALA LUMPUR (July 20): The FBM KLCI sagged in early trade this morning in line with retreat at most regional markets, weighed by blue chips including index-linked plantation stocks.

At 9.01am, the FBM KLCI shed 1.26 points to 1,669.29.

The top losers included PPB Group Bhd, SAM Engineering & Equipment (M) Bhd, IOI Corporation Bhd, MISC Bhd, Maxis Bhd, Unisem (M) Bhd, Ta Ann Holdings Bhd, CIMB Group Holdings Bhd and Berjaya Sports Toto Bhd.

Asian stocks stepped back early on Wednesday after a record run on Wall Street showed signs of petering out, while the dollar hovered near a four-month high against a basket of currencies, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2%, putting some distance between the nine-month high struck late last week, it said.

JF Apex Securities Research in a market preview today said US markets ended mixed overnight with the Dow extending its record high as investors digest second quarter results.

It said that meanwhile, European stocks closed lower due to geopolitical tensions.

"On the local bourse, the FBM KLCI was flat after losing 0.29 points to 1,670.55 points.

"Following the mixed performance in the US and Europe, the FBM KLCI could take a breather and trend sideways below the resistance of 1,685 points following the recent surge," it said.

 

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