KUALA LUMPUR: Blue chips fell early Monday, following the weaker key Asian markets, with the key FBM KLCI down more than 25 focuses, the greatest decrease toward the beginning of exchange numerous months.
At 9.05am, the KLCI was down 25.10 focuses or 1.34% to 1,845.38. Turnover was 312.81 million offers esteemed at RM113.83mil. Decliners pounded advancers 594 to 28 while 158 counters were unaltered.
Asian offer markets discovered Monday as fears of resurgent expansion battered securities, toppled Wall Street from record highs and started theory national banks all inclusive may be compelled to fix all the more forcefully, Reuters announced.
Japan's Nikkei slid 2.2%, while Australia's primary file facilitated 1.3%. MSCI's broadest record of Asia-Pacific offers outside Japan shed 0.8 percent for its third straight session of misfortunes.
US stock prospects opened weaker on Sunday, broadening the defeat value markets experienced on Friday when the benchmark S&P 500 and Dow Jones Industrial normal scored their most exceedingly bad week since early January 2016.
Kenanga Investment Bank Research said the specialized standpoint for the KLCI remains emphatically predisposition with straightforward moving midpoints (SMAs) in a "Brilliant Crossover" state while force markers show uptrend.
"Foresee a sound pullback following auction in US before an inevitable move towards protection level of 1,888 (R1) and 1,900 (R2) - a level close to untouched high recorded in July 2014.
"Support can be recognized at 1,840 (S1) and mental level of 1,800 (S2)," it said.
Among the KLCI stocks Petronas Dagangan fell 38 sen to RM25.10, Hong Leong Bank 24 sen to RM18.56 and CIMB 23 sen bring down at RM7.02.
KESM was the best washout, down RM1.34 to RM18.06 and Vitrox 31 sen to RM5.80.
Top Glove lost 23 sen to RM9.12 and KL Kepong 22 sen to RM25.04.
Hengyuan fell 46 sen to RM13.16 and Petron 40 sen bring down at RM11.42.
Settle avoided the pattern, up 60 sen to RM116.50 while Axis REIT increased three sen to RM1.40.
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