KUALA LUMPUR: The FBM KLCI kicked off Monday nearly 14 points down weighed by losses in Maybank and Tenaga, as investors cashed out following two days of rally last week.
At 9.21am, the KLCI stumbled 13.02 points to 1,719.42. Turnover was 125.62 million shares valued at RM67.91mil. There were 121 gainers, 171 decliners and 148 counters unchanged.
Reuters reported the US dollar took an early dip on Monday as Asian investors caught up with a benign payrolls report and the subsequent slide in Treasury yields, though turnover was light with Tokyo on holiday.
It said share markets were opening lower following a soft finish on Wall Street though sentiment was supported by speculation the Federal Reserve would be patient in tightening policy given the weakness of wages apparent in the jobs numbers.
Meanwhile, Hong Leong Research said last week the index managed to find some buying support at 1,700 psychological level.
"However, any technical rebound will be capped near 1,743 and 1,748 levels, given nagging domestic concerns over the health of the Malaysian economy and corporate earnings, weaknesses in ringgit and oil prices and
renewed uncertainties in the mega CIMB/RHBCAP/MBSB merger," it said.
At Bursa Malaysia, MBSB fell 13 sen to RM2.28, Maybank 12 sen to RM8.49 and HLBank 22 sen to RM13.78.
Tenaga fell 12 sen to RM14.04.
Sime Darby fell 11 sen to RM9.07 and KL Kepong 22 sen to RM21.94.
Gainers were Evergreen, up 5.5 sen to 78 sen, Perak Corp 20 sen to RM2.51 and Integrax 42 sen to RM2.73.
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