KUALA LUMPUR: The Malaysian market started trade on a positive note on Tuesday, Aug 24, despite the negative overnight close on Wall Street.
At 9am, the benchmark FBM KL Composite Index opened 1.70 points up to 1,404.85. Among the top volume in early trade is Sinotop, Carotech and Tejari.
Early gainers were LionFIB up 11 sen to RM1.50, SunCity up 10 sen to RM3.95, FIMA Corp added 10 sen to RM4.55
Key Wall Street barometers slid overnight on Monday as economic growth concerns outweigh optimism for anticipated mergers and acquisitions with the Dow Jones Industrial Average ending dipped 0.38% to 10,174.41, S&P 500 0.40% lower to 1,067.36, Nasdaq shed 0.92% to 2,159.63.
Key regional markets were lower before market open with Japan's Nikkei 225 -1.09% to 9,017.02, South Korea's Kospi - 0.63% to 1,756.60 and Australia's ASX 200 -0.65% to 4,400.20 at 8.39 am.
For the local bourse, HwangDBS Vickers Research morning report said, "Although the benchmark FBM KLCI reached a fresh 30-month high on Monday ' after rising for the seventh consecutive day for a cumulative gain of 53.8-point or 4.0% ' we reckon profit-taking pressures are starting to set in."
The research house expects, the bellwether index may slide towards its resistance-turned-support level of 1,395 ahead.
At 9am, the benchmark FBM KL Composite Index opened 1.70 points up to 1,404.85. Among the top volume in early trade is Sinotop, Carotech and Tejari.
Early gainers were LionFIB up 11 sen to RM1.50, SunCity up 10 sen to RM3.95, FIMA Corp added 10 sen to RM4.55
Key Wall Street barometers slid overnight on Monday as economic growth concerns outweigh optimism for anticipated mergers and acquisitions with the Dow Jones Industrial Average ending dipped 0.38% to 10,174.41, S&P 500 0.40% lower to 1,067.36, Nasdaq shed 0.92% to 2,159.63.
Key regional markets were lower before market open with Japan's Nikkei 225 -1.09% to 9,017.02, South Korea's Kospi - 0.63% to 1,756.60 and Australia's ASX 200 -0.65% to 4,400.20 at 8.39 am.
For the local bourse, HwangDBS Vickers Research morning report said, "Although the benchmark FBM KLCI reached a fresh 30-month high on Monday ' after rising for the seventh consecutive day for a cumulative gain of 53.8-point or 4.0% ' we reckon profit-taking pressures are starting to set in."
The research house expects, the bellwether index may slide towards its resistance-turned-support level of 1,395 ahead.
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