KUALA LUMPUR: Selling pressure sent the FBM KLCI down more than 14 points to near the 1,550 level in early trade on Friday, Jan 21 in a knee-jerk reaction to the sharp falls in key regional markets on Thursday and also weaker Wall Street.
At 9.19am, the 30-stock KLCI was down 14.06 points to 1,552.45. Turnover was 167.16 million shares valued at RM175.4 million. Losers overwhelmed gainers 365 to 62.
Allianz fell the most, down 42 sen to RM4.83 but with only 1,000 shares done. Genting fell 22 sen to RM11.46, SP Setia 14 sen to RM6.41 while Bursa and Petronas Chemicals gave up 13 sen each to RM8.62 and RM6.22 and Axiata 11 sen to RM4.78.
Public Bank and CIMB shed 10 sen each to RM13.34 and RM8.54.
Hwang DBS Vickers Research (HDBSVR) said the Malaysian bourse would probably come under profit-taking pressures when it resumes trading on Friday.
'The benchmark FBM KLCI is expected to gap down, possibly falling to its immediate support level of 1,550,' it said.
HDBSVR said this comes as many Asian stock exchanges plunged when Bursa Malaysia was closed on Thursday.
At 9.19am, the 30-stock KLCI was down 14.06 points to 1,552.45. Turnover was 167.16 million shares valued at RM175.4 million. Losers overwhelmed gainers 365 to 62.
Allianz fell the most, down 42 sen to RM4.83 but with only 1,000 shares done. Genting fell 22 sen to RM11.46, SP Setia 14 sen to RM6.41 while Bursa and Petronas Chemicals gave up 13 sen each to RM8.62 and RM6.22 and Axiata 11 sen to RM4.78.
Public Bank and CIMB shed 10 sen each to RM13.34 and RM8.54.
Hwang DBS Vickers Research (HDBSVR) said the Malaysian bourse would probably come under profit-taking pressures when it resumes trading on Friday.
'The benchmark FBM KLCI is expected to gap down, possibly falling to its immediate support level of 1,550,' it said.
HDBSVR said this comes as many Asian stock exchanges plunged when Bursa Malaysia was closed on Thursday.
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