KUALA LUMPUR: Stocks opened lower in early trade Monday in the absence of strong fresh corporate news while the weaker Wall Street last week also weighed down sentiment.
At 9.30am, the KLCI was down 3.54 points to 1,146.58. Turnover was 25.78 million shares valued at RM27.1mil. There were 41 gainers, 118 losers and 73 counters.
Among Asian markets, Japan’s Nikkei 225 rose 0.48% or 63.22 points to 13,102.91 but Singapore’s Straits Times Index fell 0.33% to 2,917.05 and Shanghai’s A Share Index lost 0.92% to 2,968.73.
Light crude oil fell over US$2 to US$143 a barrel following a recovery in the US dollar after US Treasury and the Federal Reserve took steps to help the embattled mortgage lenders Fannie Mae and Freddie Mac.
On the home front, all eyes will be on the outcome of an
emergency motion of no confidence against Prime Minister Datuk Seri Abdullah Ahmad Badawi at 11.30am Monday.
At Bursa Malaysia, among the losers were KL Kepong, down 20 sen to RM15.10, Bursa lost 15 sen to RM6.75 and Goodway 14.5 sen to 60.5 sen. Down 10 sen each were Public Bank and Tanjong to RM10.40 and RM12.60.
MK Land rose one sen to 25 sen on talks of a takeover. It was the most active with 3.55 million shares done.
Ingress was traded higher on expectations of securing new rail contracts, rising seven sen to 55 sen.
MPI rose 35 sen to RM7.05, Johor Land 24 sen to RM1.24, KNM 20 sen to RM6, while Public Bank foreign rose 10 sen to RM10.50.
MKLAND : [Stock Watch] [News]
INGRESS : [Stock Watch] [News]
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