KLCI starts week on weaker note

he FBM KLCI extended its losses at mid-morning on Monday, Aug 22 in line with the weaker closing at Wall Street last Friday and the still cautious sentiment at regional markets.

Most regional markets were slightly up on the prospect of currency market intervention in Japan offsetting growing worries of another U.S. recession.

The FBM KLCI was down 6.96 points to 1,477.02 at 10am, with weighed by losses at blue chips including CIMB, BAT, KLK, and Digi.

Losers edged gainers by 267 to 121, while 174 counters traded unchanged. Volume was 132.95 million shares valued at RM256.82 million.

At the regional markets, Japan’s Nikkei 225 added 0.19% to 8,735.57, Hong Kong’s Hang Seng Index gained 0.79% to 19,553.81, the Shanghai Composite Index was up 0.39% to 2,544.19, Taiwan’s Taiex rose 1.69% to 7,466.77 and Singapore’s Straits Times Index edged up 0.27% to 2,740.95.

Meanwhile, South Korea’s Kospi shed 0.04% to 1,744.20. (theedgemalaysia.com)