=MARKET BUZZ: Malaysia’s KLCI Down 0.2%; 1777 Support Tipped
KUALA LUMPUR (Sep 26) -- Malaysia’s benchmark KLCI heads for third day lower; down 0.2% at 1791.21, a near two-week low. IOI Corp. biggest percentage loser on index, now down 1.1% at MYR4.49. In broader market, losers outpace gainers 219-to-198 gainers; about 391 million shares change hands so far in deals worth MYR233.91 million. With lack of local factors to trigger gains, "there's likely more downside for KLCI," says Kuala Lumpur-based dealer; expects smaller-caps and ACE market-listed stocks to be in play as traders buy on weakness. KLCI likely to face further selldown in the short-term, says Hong Leong Investment Bank analyst Loui Low; tips support for KLCI at 1777, resistance at 1800.
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