=MARKET BUZZ: Malaysia's KLCI Recoups Early Losses; 1750 Support Tipped
KUALA LUMPUR (Jun 14) -- Malaysia's benchmark KLCI recoups some initial losses, now down 0.5% at 1754.51 in line with most Asian shares, which are trading lower tracking overnight losses in Wall Street. Focus also on China's industrial production data due later today. Digi.Com weighs on index with 1.6% loss at MYR4.45. In broader market, laggards outnumber gainers 220-to-165; about 319 million shares changed hands so far in deals worth MYR216 million. "We see little change to the immediate market outlook as there is still no change to the market environment that will still be wary of the country’s fiscal position as well as the corporate earnings outlook," says Malacca Securities in investor note. Hong Leong Investment Bank tips support at 1750, expects trading activities to focus on oil and gas, construction stocks.
- By Chong Sin Hao; Dave.Chong@nikkeinewsrise.com; +60320267363
- Edited By Abhrajit Gangopadhyay
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