Update in progress........

Wednesday, June 18, 2008

KLCI falls below key 1,200 level

KUALA LUMPUR: Blue chips fell in early trade Thursday, with the KLCI sliding below the psychologically-important 1,200-level briefly, dragged down by political uncertainties arising from the Sabah Progressive Party’s latest move.
The sharp overnight fall on Wall Street on Wednesday, which saw the Dow Jones Industrial Average sinking to its lowest close in three months, also made investors nervous.
At 9.30am, the KLCI was down 1% or 12.12 points to 1,200.47. Turnover was 45 million shares valued at RM80.1mil. Losers hammered gainers 262 to 28 while 84 counters were unchanged.
Asian markets fell, with Japan’s Nikkei 225 down 1.92% to 14.175.43. Singapore’s Straits Times Index fell 1.24% to 3,002.48 while Shanghai’s A Share Index lost 1.38% to 3,042.78.
In New York, the Dow Jones Industrial Average slid 131.24 points, or 1.08%, to 12,029.06 -- its lowest close since March 17.

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