FBM KLCI slumps following wild trading on Wall Street

KUALA LUMPUR: The FBM KLCI opened weaker on Tuesday as it looked to continue its losing streak following a wildly volatile session on Wall Street overnight.

At 9.05am, the key index was down 5.56 points to 1,516.3.

The negative performance comes on the back of a heightened uncertainty in US markets overnight, which saw all thee major indices fall sharply into the red before swinging back into positive territory in the second half of the day.

Investor positioning ahead of the US Federal Reserve's monetary policy decision on Wednesday saw the Dow Jones coming back from a deficit of more than 1,000 points in a dramatic turnaround as investors considered that stocks maybe be heavily oversold.

There were no such qualms on the domestic market however as the selling continued for a seventh straight day.

Financial counters were hit once again as Maybank dropped six sen to RM8.19, Public Bank slid one sne to RM4.18 and CIMB shed five sen to RM5.20.

Petronas Chemicals was down five sen to RM8.85, Petronas Gas lost six sen to RM16.92 and IHH dropped 14 sne to RM6.33.

Sime Darby Plantation slumped seven sen to RM3.93.

Meanwhile, technology counters saw some recovery from recent losses with MPI gaining 28 sen to RM29.78, Vitrox rising 11 sen to RM7.91 and UWC adding six sen to RM4.60.

Among top actives, Senheng dove 14.5 sen to 92.5 sen, G3 rose one sen to eight sen and Coraza was up four sen to 85.5 sen.
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Bursa Malaysia , FBM KLCI , equities


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