KUALA LUMPUR: Blue chips lost ground in early Wednesday trade, tracking the overnight fall on Wall Street and cautious key Asian markets but Main Market debutant Tuju Setia held firm.
At 9.25am, the FBM KLCI was down 4.8 points or 0.3% to 1,586.52. Turnover was 720.91 million shares valued at RM325.34mil. There were 375 losers to 167 gainers and 325 counters were unchanged.
Asian stocks tracked US declines on Wednesday as concern about faster inflation shadows the economic recovery from the pandemic, Bloomberg reported.
Japanese and Australian shares slid after key US equity benchmarks closed lower and large technology stocks like Amazon.com Inc. and Microsoft Corp. erased gains. AT&T Inc. plunged after the company said it plans to spin off its media operations.
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