KUALA LUMPUR: Blue chips fell in morning trade on Monday, May 23, as investors remained cautious about the fallout from the Europe debt crisis despite positive local news from recent corporate developments.
At 9.41am, the FBM KLCI was down 5.77 points to 1,535.26. Turnover was 125.33 million shares done valued at RM111.87 million. There were 131 gainers, 241 losers and 175 stocks unchanged.
Maybank Investment Bank Research said the possible Greek debt default caused the global market malaise.
'The obvious support areas for the FBM KLCI are located in the 1,507 to 1,536-zone. The firm resistance zone of 1,541 and 1,576 will see very heavy liquidation activities,' it said.
Maybank IB Research said the local market had meandered in a very tight range since the beginning of 2011. We expect that the market would be in further range-bound movements for the next few weeks, as market-moving local news flow appears to have dried up.
BAT fell 34 sen to RM45.66, KL Kepong 32 sen to RM21.68, Hong Leong Bank 22 sen to RM11.82, HLFG 12 sen to RM11.44, DiGi 10 sen to RM28.50 and AMMB nine sen to RM6.42.
At 9.41am, the FBM KLCI was down 5.77 points to 1,535.26. Turnover was 125.33 million shares done valued at RM111.87 million. There were 131 gainers, 241 losers and 175 stocks unchanged.
Maybank Investment Bank Research said the possible Greek debt default caused the global market malaise.
'The obvious support areas for the FBM KLCI are located in the 1,507 to 1,536-zone. The firm resistance zone of 1,541 and 1,576 will see very heavy liquidation activities,' it said.
Maybank IB Research said the local market had meandered in a very tight range since the beginning of 2011. We expect that the market would be in further range-bound movements for the next few weeks, as market-moving local news flow appears to have dried up.
BAT fell 34 sen to RM45.66, KL Kepong 32 sen to RM21.68, Hong Leong Bank 22 sen to RM11.82, HLFG 12 sen to RM11.44, DiGi 10 sen to RM28.50 and AMMB nine sen to RM6.42.
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