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Malaysia Market Watch 9th August 2012

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KUALA LUMPUR – the FBM KLCI edged lower in early traded on Thursday, in line with the overnight mixed close at Wall Street, and weighed by losses at select blue chips.

The index shed 0.25 of a point to 1,635.67 at 9am.

There were 59 gainers and 37 losers, while 95 counters traded unchanged. Volume was 17.07 million shares valued at RM6.34 million.

Asian shares inched up on Thursday with investors turning to data from China for any policy implications on future stimulus, amid guarded optimism for decisive action by Europe to tackle the euro zone debt crisis and global growth slowdown, according to Reuters.

Chinese inflation and Australian employment figures are due at 0130 GMT, followed by China’s industrial output and retail sales later in the session, it said.
Global shares lost steam on Wednesday and traded little changed, while the euro fell as a lack of details prompted investors to tone down optimism for early central bank action to tackle the euro zone debt crisis, said Reuters.

On Bursa Malaysia, the early decliners included HLFG, PPB, KPJ, CIMB, Tenaga, IOI Corp, SapuraKencana and Metronic.

By Surin Murugiah of theedgemalaysia.com