Share prices on Bursa Malaysia were sharply lower, in early trade, as US stocks plunged overnight weighed by poor economic data, dealers said.
Asian markets are expected to see downside risk on concerns that the still fragile US economy will impact global exports and manufacturing activities.
As at 9.15 am, the benchmark FBM KLCI lost 10.83 points to 1,544.02 after opening 5.36 points lower at 1,549.49.
The Finance Index dipped 78.45 points to 14,638.84, the Industrial Index decreased 11.42 points to 2,824.36 and the Plantation Index erased 22.98 points to 7,747.12.
The FBM Emas Index fell 73.511 points to 10,654.93, the FBM Ace Index trimmed 51.04 points to 4,118.68 while the FBM Mid 70 Index wiped out 93.779 points to 11,798.53.
Losers beat gainers 309 to 37 while 96 counters were unchanged, 1,059 untraded and 34 others were suspended. Turnover stood at 75.26 million shares worth RM69.4 million.
Actives, Sanichi Technology gained half-a-sen to eight sen, The Media Shoppe rose by the same margin to eight sen but Olympia Industries and Asian Pac Holdings slipped half-a-sen each to 29 sen and 9.5 sen, respectively.
Heavyweights, Maybank and CIMB both lost seven sen each to RM8.75 and RM8.32, respectively, Petronas Chemicals decreased five sen to RM6.76 and Sime Darby fell six sen to RM9.08. -- Bernama
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mavasuppiah
Is double dip started
2011-08-03 14:10