ASEAN KEY DESTINATIONS
Asean markets down
Asia continued to trade in the red as sentiments of unresolved global uncertainties over-spilled into the new week.
Hwang DBS Vickers Research said in its market preview that “our Malaysian bourse will be hoping to regain its footing after falling by 65.0-point or 4.5 percent last week. Nonetheless, we reckon any technical rebound will likely be mild in the near term”.
It also included that “stocks that could see a relief rally today include beaten down heavyweights such as Maybank, Sime Darby and Genting. Proton shares may also attract interest after a weekly business reported that there has been renewed interest in a takeover exercise in the national automotive company”.
The FBM KCLI traded at 1347.14 at 10.06 a.m., dipping 18.8 points or 1.38 percent. It opened at 1357.74, losing 8.20 points, or 0.6 percent.
Locally, market volume was relatively thin with 131.25mil shares traded at 10.10am worth RM173.77mil. Decliners outpaced advancers 413 to 53 while 155 counters remain unchanged. The gainers were led by United U-Li Corp Bhd, rising 18 sen to RM1.03; Hil Industris Bhd gaining 14 sen to hit RM4.09 and QSR Brands Bhd gaining 11 sen to RM5.44.
On the other end, the losers in morning trade were Kuala Lumpur Kepong Bhd, sliding 56 sen to RM 20.14; Public Bank Bhd falling 48 sen to RM11.96 and blue chip Dutch Lady Milk Industries Bhd dipping 36 sen to RM17.66.
Within the region, bourses traded in the slight negative. Tokyo's Nikkei 225 lost 1.65 percent to 8419.36; Hong Kong's Hang Send Index was recorded a 0.31 percent dip at 17614.51; Shanghai A index was down 0.12 percent to 2430.13 while Taiwan's Taiex slid 0.73 percent to 6994.53 and Korea's Kospi fell 1.2 percent to 1677.12.
Closer to home, Singapore's Straits Times Index fell 1.05 percent to 2670.38.
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