KUALA LUMPUR: The FBM KLCI skidded to a low of 1,248 in early trade on Monday, Nov 30, tracking the losses on Wall Street as the local market extended its consolidation after the trade-shortened week.
At 9.12am, the FBM KLCI had fallen 12.23 points to 1,258.38. Turnover was 102.46 million shares valued at RM134.16 million.
Hwang DBS Vickers Research said in its market outlook that the bears - and not the bulls - would return first to the Malaysian stock exchange following the extended weekend break.
"If so, then its benchmark FBM KLCI is expected to gap down, possibly sliding towards its immediate support level of 1,255 ahead as the consolidation process on our local bourse carries on," it said.
Petra Energy fell 54 sen to RM1.27 while BLD PLANTATION []s lost 40 sen to RM3.60. Dutch Lady gave up 26 sen to RM11.80, Hartalega 21 sen to RM5.58, HL Bank 20 sen to RM7.98.
KNM was the most active with 11.4 million shares done, down 2.5 sen to 73.5 sen, after releasing its poor set of corporate results. Maxis fell three sen to RM5.34 and Gamuda nine sen to RM2.66.