Written by Joseph Chin
Tuesday, 27 October 2009 09:24
KUALA LUMPUR: Blue chips fell in early trade on Tuesday, Oct 27 with most of the heavyweights in the red, including CIMB, Tenaga and Genting after the overnight decline on Wall Street.
On Wall Street, home builders and financials fell on fears lawmakers may let a federal home buyer tax credit expire, while commodity shares succumbed to pressure from the higher U.S. dollar.
The Dow Jones industrial average dropped 104.22 points, or 1.05 percent, to 9,867.96. The Standard & Poor's 500 Index shed 12.65 points, or 1.17 percent, to 1,066.95. The Nasdaq Composite Index fell 12.62 points, or 0.59 percent, to 2,141.85.
At 9.18am, the FBM KLCI fell 11.66 points to 1,248.26. Turnover was 86.61 million shares valued at RM83 million.
CIMB fell 16 sen to RM12.46, Tenaga 15 sen to RM8.33, Genting and Sime Darby 12 sen to RM7.44 and RM8.93 while IOI Corp lost 11 sen to RM5.35.