FKLI Sep month dropped 12.5 points or 0.76% to close lower at 1635.5. The FBM KLCI ended in the red, marking its fourth straight session of losses, as worries about the US growth outlook dampened sentiment.
Overnight Dow Jones dropped 410 points to 40345. Uncertainty about the health of the U.S. economy is intensifying market volatility, as investors face a shifting Federal Reserve policy, a tight U.S. election, and concerns over high valuations. On Friday, U.S. stocks fell sharply after key jobs data revealed a greater-than-expected slowdown in the labor market. This raised concerns about the U.S. economy's ability to achieve a soft landing, where the Fed manages to curb inflation without severely impacting growth.
The FKLI remain to trading in downside bias. The immediate support and resistance levels are identified at 1629 and 1638, respectively.
(News Source: The Star; Reuters)
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| Stock | Last (RM) | Change (RM) | Volume |
|---|
| Stock | Last (RM) | Change (RM) | Volume |
|---|
| Stock | Last (RM) | Change (RM) | Volume |
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| Currency | Buy Rates (RM) | Sell Rates (RM) |
|---|---|---|
| USD | 4.186344 | 4.224837 |
| EUR | 4.692802 | 4.707788 |
| CNY | 0.594564 | 0.595974 |
| HKD | 0.537155 | 0.542118 |
| SGD | 3.243708 | 3.273864 |
Last Updated: Friday, September 20, 2024
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