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Market weakness continues as US July CPI looms

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At 9.05am, the FBM KLCI was down 4.51 points to 1,493.17.

There were 180 decliners compared with 83 gainers on the market for an overall weak market performance."With the Wall Street overnight ended negative, we opine that the investors may stay sidelines for the session.

"Upside potential might be capped by the elevating global risks such as China-Taiwan tension and heightened inflationary pressures environment. "However, traders are likely to position themselves selectively ahead of the August reporting month as foreign buying remains positive over the past few days," said Malacca Securities Research in a report.

 

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Asia stocks edge up, buyers wary as markets await U.S. inflation testHONG KONG: Asian shares eked out modest gains on Tuesday as buyers were held back by persistent global cost pressures, with investors turning their focus this week to U.S. inflation data and the prospects for further aggressive Federal Reserve rate hikes.
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