0126 GMT [Dow Jones] KLCI down 0.7% at 1234.90, after opening gap down, taking cues from weak regional markets, says dealer with local brokerage; notes finance stocks lead declines (with subindex down 0.8%). Adds support at 1230 likely to hold. Market breadth negative with losers outpacing gainers 202 to 28 with thin volume of 57 million shares traded. "While long-term trend indicators are still positive and pointing further upside, the benchmark index may undergo further consolidation this week due to externalities," says TA Research; advises investos to Buy on weakness, with focus on property, oil & gas, technology, glove and gaming sectors. Among banking stocks, CIMB (1023.KU) down 1.3% at MYR12.32, Hong Leong Bank (5819.KU) down 0.8% at MYR7.43, AMMB (1015.KU) down 2.3% at MYR4.62. Other decliners include Bursa (1818.KU) which eased 0.7% at MYR8.10, Sime Darby (4197.KU) shed 0.6% at MYR8.84 and Genting (3182.KU) dropped 1.0% at MYR7.17. (ECH)
Dow Jones Newswires
November 01, 2009 20:26 ET (01:26 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
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