BLUE chips extended their losses in early trade on March 4, dragged down by losses in heavyweights including BCHB, MISC and Tenaga in absence of strong leads to attract fresh buying interest.
At 10am, the KLCI was down 6.31 points or 0.47% to 1,324.3 in thin trade. Declining stocks beat advancers 237 to 123.
Asian markets fared better, despite the uninspiring close on Wall Street where the Dow Jones Industrial Average ended 7.49 points or 0.06% lower to 12,258.9.
Japan’s Nikkei 225 rose 0.75% to 13,089.34, South Korea’s Kospi added 0.25% to 1,675.97 while Singapore’s Straits Times Index advanced 0.36% to 2,937.19.
At Bursa Malaysia, BAT led the losers’ list, falling 50 sen to RM43.50. BCHB lost 30 sen to RM10.10, Gamuda fell 16 sen to RM3.66 while heavyweights MISC and Tenaga lost 15 sen each to RM8.60 and RM8.80.
However, KNM bucked the cautious market sentiment, rising 15 sen to RM6.25 after it announced it was acquiring German process equipment specialist Borsig for RM1.7 billion in a cash deal.
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