KL bourse expected to move lower

MALAYSIA'S stock market is expected to open lower today, following US markets tumbled as two major US automakers took a step closer to potential bankruptcy, and a spate of European bank rescues heightened concerns over the financial system’s health.
“I guess it might follow the cue of what happened yesterday, the fall in Dow Jones. It will be downward,” said a trader in the Malaysian capital.
“I think the focus is still on banking, I think again state of the economy is key, so banking will be under pressure today.”
The Dow Jones Industrial Average plunged 254.16 points (3.27 per cent) to finish at 7,522.02.

The tech-heavy Nasdaq composite dropped 43.40 points (2.81 per cent) to 1,501.80 and the broad-market Standard & Poor’s 500 index retreated 28.41 points (3.48 per cent) to 787.53. - Reuters