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MARKET BUZZ: Malaysia's KLCI Falls 0.1% In Early Trade; 1840 Support Tipped

By Chong Sin Hao
Nikkei Markets
KUALA LUMPUR (Mar 20) -- Malaysia's benchmark KLCI falls 0.1% at 1846.13, in line with most Asian shares, which are down tracking overnight losses on Wall Street. Axiata Group weighs on index after shedding 1.1% at MYR5.29. In broader market, laggards outnumber gainers 305-to-128; about 283 million shares changed hands so far in deals worth MYR119 million. "We expect traders or retailers to stay conservative, deploying the wait-and-see strategy over the near term without any strong form of buying interest," says Hong Leong Investment Bank in investor note. Still, "any downside could be cushioned out by the local institutions ahead of the dissolution of parliament and the major political event (general election) in Malaysia," adds house; tips support at 1840.
- By Chong Sin Hao;; +60320267363
- Edited By Abhrajit Gangopadhyay
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- Copyright (c) 2018 Nikkei NewsRise Asia Pte Ltd.

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