KLCI trends lower in line with jittery global markets

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KUALA LUMPUR (Oct 2): The FBM KLCI trended lower in early trade, in line with the fall at regional markets and lower overnight close at Wall Street.

At 9am, the FBM KLCI shed 0.15 points to 1,845.17.

The top losers included BAT, HLFG, Lafarge Malaysia, Telekom, Globetronics,Ta Ann, My E.G., Petronas Chemicals, Success, AMMB and Pos Malaysia.

Regionally, Asian stocks fell on Thursday, dragged lower after the first case of Ebola diagnosed in the United States spooked Wall Street overnight, while a bout of risk aversion pushed down yields and put the dollar's recent rally on pause, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2 percent, and Tokyo's Nikkei shed 1.3 percent, it said.

JF Apex Research in a market preview Thurday said the FBM KLCI dropped 0.99 points to 1845.32 points on Wednesday.

“Asian stocks are called lower today following sharp declines on Wall Street and continued unrest in Hong Kong, while investors await the European Central Bank's policy meeting.

“We expect the KLCI to be negative today with support at 1830 points,” it said.