KLCI markets fall again in morning session

PETALING JAYA (23Oct): Asian markets including the Bursa Malaysia extended their losses on Thursday morning after the overnight slump at Wall Street and other global exchanges.

The Dow Jones Industrial Average lost 514 points, or 5.7%, yesterday and closed at 8,519. It fell as much as 698 points during the session.

South Korea's Kospi fell the most at 7.64% to 1,047.90 points, followed by Japan's Nikkei 225 that lost 6.23% or 540.81 points to 8.133.88; Singapore's Straits Times Index fell 3.95% to 1,749.12 while the Shanghai Composite Index lost 2.80% to 1,842.76.

At the Bursa Malaysia, the Kuala Lumpur Composite Index fell 14.79 points to 889.49 points at 9.35am. Trading volume was 65.71 million shares valued at RM76.71 million.

Losers thumped gainers by 249 to 22, while 64 counters traded unchanged. Plantation and finance players fell this morning.

Kuala Lumpur Kepong Bhd was the top loser and fell 35 sen to RM7.65, while United Plantations Bhd lost 30 sen to RM9.25.

Boustead Heavy Industries Corporation Bhd and PPB Group Bhd fell 25 sen each to RM2.50 and RM8.15, respectively. Kwantas Corporation Bhd lost 23 sen to RM2.

Other losers included Sime Darby Bhd and IOI Corporation Bhd.

Among finance counters, Malayan Banking Bhd and Bumiputra-Commerce Holdings Bhd fell 20 sen each to RM5.10 and RM6.85, respectively, while Public Bank Bhd lost 10 sen to RM8.60.

Meanwhile, crude oil prices fell more than US$5 per barrel in electronic trading as at 9.30am to US$66.75 (RM235.63), on reports of higher US inventories that escalated worries that demand was slowing down. (TheEdgeDaily)