KUALA LUMPUR: The local bourse fell in morning trade on Tuesday following a slump in regional stock markets yesterday.
HwangDBS Vickers Research Sdn Bhd said the local stock exchange, which was closed Monday for the Merdeka holiday, was expected to play catch up – on the downside – when trading resumed today.
Hong Kong and Singapore were down 1.9% each and the Chinese equity indices plunged 6.7% to 7.1%.
Meanwhile, key barometers on Wall Street slipped between 0.5% and 1.0% at the closing bell last night following the jittery performance across Asia earlier in the day.
HwangDBS expects the FBM KLCI to probably start the week on a weaker footing ahead.
“The benchmark index may be on its way to test the immediate support level of 1,160 in view of the poor external lead at the moment.
“Still, we reckon the selling pressures will likely ease off after an initial reaction, to be supported by bargain hunters waiting to buy on market weakness,” it noted.
At 9.30am, the KLCI was down 10.07 points to 1,164.20 while Singapore’s Straits Times Index rose 0.76% to 2,612.54 points.
Tokyo’s Nikkei 225 jumped 0.15% to 10,508.10 and Seoul’s Kospi Index added 0.21% to 1,595.13.
At Bursa Malaysia, 43 counters were up, 272 were down and 90 were traded unchanged. There were 55.77 million shares done at a total value of RM113.36 million.
Top losers were BAT which lost RM1.40 to RM44.50, KLK slipped 38 sen to RM12.92, IJM fell 32 sen to RM5.66 and PPB was down 24 sen to RM15.14.
Among the heavyweights, BCHB added 11 sen to RM10.06, Genting lost 18 sen to RM6.50, AMMB slipped 13 sen to RM3.98 and Bursa was down 12 sen to RM7.68.
Tanjong lost 12 sen to RM15.20, Malaysia Airports was down 2 sen to 56 sen, MRCB slipped 3 sen to RM1.25 and Bernas added 3 sen to RM1.95.
Nymex crude oil rose 19 cents to US$70.15 per barrel.
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