Wall St woes see KLCI slip below key 1,500

TheStar Thu, Jun 25, 2020 09:32am - 3 years View Original


KUALA LUMPUR: Bursa Malaysia fell in early Thursday trade as investor confidence was impacted by the weaker overnight close on Wall Street following worries about fresh Covid-19 coronavirus cases but glove makers were among the top gainers again.

At 9.17am, the FBM KLCI was down 4.82 points or 0.32% to 1,497.81. Turnover was 591.81 million shares valued at RM253.21mil. Decliners beat advancers two to one or 326 losers to 150 gainers while 313 counters were unchanged.

Rakuten Trade said the overnight fall on Wall Street was expected to weigh on key Asian markets and it anticipated regional markets to remain mixed amid the ongoing consolidation.

“On the domestic front, the FBM KLCI may finally relent and is seen to close below the psychological 1,500 level today having held on stubbornly above this threshold over the last few days. Immediate support is seen at 1,490 level, ” it said.

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