Malaysia Market - Mid-Day Comments

12:30 Asian markets mostly tumbled after US Dow Jones down by more than 600 points last night. Japan was down by 4.78%, Hong Kong 4.86% and Singapore 2.12%.

Malaysia market couldn’t be spared with KLCI fell as low as 838.07 but managed to regain some losses and settled at 843.61 lost 4.82 or 0.57%. Comparatively, Malaysia market is the best among its peers.

Market sentiment recovered immediately after the KLCI fell by about 10 points. Investors started to pick up seriously hurt counters such that most counters were able to sustain at their supports. MSO moved slowly higher from its starting point of -180.65 to -119.06.

Due to the deep plummet of Dow Jones, it is expected that CI will be hard to break yesterday’s closing level. 848 will be a tough barrier to break for today.