KUALA LUMPUR: The FBM KLCI was traded lower in early trade on Thursday, dipping 7.39 points or 0.5% to 1,463.56 at 9.10am, taking no cues from the gains seen on Wall Street overnight.
Despite opening at 0.92 points higher, the local index barometer succumbed quickly to bearish sentiments as investors took profit.
HwangDBS Vickers Research said in its market preview that the benchmark FBM KLCI will probably rise to challenge the immediate resistance level of 1,475 ahead, amid a steadier external backdrop that may lift share prices on the local stock market today.
Major equity indices on Wall Street rebounded between 1.3% and 1.6% overnight, boosted by stronger U.S. economic fundamentals.
Regional peers were mostly down with Taiwan's Taiex Index shedding 0.51% to 7,559.78 while Seoul's Kospi Index dipped 0.65% to 1,885.65.
Nymex crude oil lost 73 cents to US$91.78 per barrel. Spot gold fell US$5.98 to US$1,732.63 per ounce.
The ringgit was quoted at 3.1516 to the US dollar.
Despite opening at 0.92 points higher, the local index barometer succumbed quickly to bearish sentiments as investors took profit.
HwangDBS Vickers Research said in its market preview that the benchmark FBM KLCI will probably rise to challenge the immediate resistance level of 1,475 ahead, amid a steadier external backdrop that may lift share prices on the local stock market today.
Major equity indices on Wall Street rebounded between 1.3% and 1.6% overnight, boosted by stronger U.S. economic fundamentals.
Regional peers were mostly down with Taiwan's Taiex Index shedding 0.51% to 7,559.78 while Seoul's Kospi Index dipped 0.65% to 1,885.65.
Nymex crude oil lost 73 cents to US$91.78 per barrel. Spot gold fell US$5.98 to US$1,732.63 per ounce.
The ringgit was quoted at 3.1516 to the US dollar.
