KUALA LUMPUR: The domestic market failed to hold firm to early gains as investors took profit amid expectations of further foreign outflow amid a rising US dollar.
At 12.30pm, the benchmark FBM KLCI was down 3.89 points to 1,625.57 as bank stocks reversed earlier gains to dip into negative territory. The lower liners on Bursa Malaysia were also under selling pressure, leading to a negative overall market breadth of 531 decliners compared to 408 gainers.Reuters reported that Asian markets were under pressure from expectations economic releases later this week will show the economic outperformance of the US, supporting the dollar's bull run.China's composite index slipped 0.15% to 3,206 and Hong Kong's Hang Seng shed 0.27% to 19,706.
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