KUALA LUMPUR: The FBM KLCI remained in the negative territory at midday amid the soft sentiment as investors were cautious after Fitch downgraded the long-term rating for the US.
At 12.30 pm, the benchmark index fell 6.16 points, or 0.43% to 1,438.40. The index opened 3.19 points lower at 1,444.56 this morning.
Decliners outpaced gainers 420 to 307, while 410 counters were unchanged. Turnover was at 1.6 billion shares valued at RM803.8mil.
“Though we reckon market sentiment may have been affected by the US downgrade, we believe this present an excellent opportunity to bargain hunt as judging by the last US rating downgrade in 2011, we noticed the equity markets did not experience any prolonged negative reaction.
...