KUALA LUMPUR: Blue chips fell early Monday, extending their decline from last week after markets reacted sharply on worries about Donald Trump's policies after the Republican candidate clinched the US presidential post.
At 9.41am, the FBM KLCI was down 12.85 points or 0.79% to1,621.34. Turnover was 240.90 million shares valued at RM156.25mil. There were 114 gainers, 329 losers and 201 counters unchanged.
Bloomberg reported the US dollar strengthened versus most peers, US equity index futures gained and a selloff in sovereign bonds deepened as investors continued to assess the implications of Donald Trump’s election to the American presidency. Japanese shares rallied after economic data.
The ringgit was at 4.3315 against the US dollar, up 0.24% from last Friday's close at 4.3418 as Bank Negara Malaysia said it would curb speculative activity in the offshore market which has driven the currency far off from its fundamentals.
On the outlook for the market, JF Apex Research said: “Following the bearish momentum sparked by Donald Trump's victory in the US election, the KLCI is expected to remain volatile and uncertain with a negative bias with immediate support at 1610.”
BAT fell the most, down 76 sen to RM44.30 while Henieken lost 10 sen to RM16.66.
Petronas Dagangan fell 24 sen to RM23.26 and Petronas Gas 14 sen lower at RM21.56.
PPB Group lost 14 sen to RM15.86, HLFG 12 sen to RM14.92, Hap Seng 10 sen to RM7.70 and LPI was down 10 sen also to RM16.50.
Hong Leong Industries added 11 sen to RM9.90, N2N six sen to 80 sen and Sime Darby five sen higher at RM8.04.
Bloomberg reported the US dollar strengthened versus most peers, US equity index futures gained and a selloff in sovereign bonds deepened as investors continued to assess the implications of Donald Trump’s election to the American presidency. Japanese shares rallied after economic data.
The ringgit was at 4.3315 against the US dollar, up 0.24% from last Friday's close at 4.3418 as Bank Negara Malaysia said it would curb speculative activity in the offshore market which has driven the currency far off from its fundamentals.
On the outlook for the market, JF Apex Research said: “Following the bearish momentum sparked by Donald Trump's victory in the US election, the KLCI is expected to remain volatile and uncertain with a negative bias with immediate support at 1610.”
BAT fell the most, down 76 sen to RM44.30 while Henieken lost 10 sen to RM16.66.
Petronas Dagangan fell 24 sen to RM23.26 and Petronas Gas 14 sen lower at RM21.56.
PPB Group lost 14 sen to RM15.86, HLFG 12 sen to RM14.92, Hap Seng 10 sen to RM7.70 and LPI was down 10 sen also to RM16.50.
Hong Leong Industries added 11 sen to RM9.90, N2N six sen to 80 sen and Sime Darby five sen higher at RM8.04.
Gold tumbled to a five-month low, expanding its decay a week ago after the presidential decision as the US dollar reinforced on higher desires for a financing cost increment in the US.
Bullion for prompt conveyance dropped as much as 1.1 for each penny to US$1,213.81 an ounce, the most reduced level since June 3, and was at US$1,217.19 at 9:15am in Singapore, as per Bloomberg non specific evaluating. The metal lost 5.9 for every penny a week ago, the most since June 2013.
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