Malaysian stocks seen lower after US markets fall

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KUALA LUMPUR (Oct 16): Malaysian stocks may extend losses today after the overnight decline in US equities dragged Asian market futures lower. Global markets have taken the cue from economic growth concerns and spread of Ebola in the US.   

Yesterday, Malaysia's FBM KLCI fell 9.54 points or 0.53% to close at 1,786.84.

In the US, the Dow Jones Industrial Average declined 1.06%, S&P 500 lost 0.81% while Nasdaq Composite was 0.28% lower.

Today, Bloomberg reported thaty Asian index futures slipped as mounting global economic concerns sent the Standard & Poor’s 500 Index to six-month low, even as small-cap shares rebounded. Crude oil extended declines, while the dollar held losses after its biggest drop in more than a year versus the yen.

Futures on Japan’s Nikkei 225 Stock Average sank as much as 1.7 percent in Osaka and Chicago, while contracts on Australia’s S&P/ASX 200 Index lost 0.8 percent. S&P 500 futures slipped 0.1 percent by 7:17 a.m. in Tokyo after the benchmark US gauge pared a slump of as much as 3 percent to close 0.8 percent lower at 1,862.49.