"Succumbing to profit taking. The FBM KLCI ended 4.92 points lower at 1202.36 on the back of profit taking of key heavy weights. Regional markets also ended mostly in the red with investors taking a more conservative approach ahead of key data-points to be released later this week from the US. Major local headlines for today are the government to spend RM6-7bn on the LRT extensions, Proton denying management buyout talks and AirAsia to be suspended today for the announcement of the book-building pursuant to its private placement exercise. Overnight, US markets closed higher on a last minute turnaround following gains in financial, utility and industrial shares with crude oil price stable at US$68 per barrel."
From OSK Research
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