The market was down an hour after trade began on Tuesday as investors reacted negatively to news on Wall Street that there may be more trouble ahead for US quasi-government mortgage giants Fannie Mae and Freddie Mac.
At 10am, the KLCI had shed 14.05 points to 1,070.31. Turnover was 77.68 million shares valued at RM120.32mil. There were 43 gainers, 251 decliners with 112 counters unchanged.
Markets in the region were mostly down with the exception of Shanghai's A Share Index, which was up 21.35 points to 2,341.21. Tokyo's Nikkei 225 was down 349.02 points to 12,816.43 while Hong Kong's Hang Seng Index and Singapore's Straits Times Index shed 134 points and 38.09 points each to 20,796.67 and 2,738.89 respectively.
Light crude at the Nymex eased to 112.70 while the ringgit was trading at 3.33 to the dollar. Light crude has fallen 23% so far from its record this year on July 11 when it was trading above US$147.
Amongst the losers, Bursa lost 15 sen to RM6.40 while Tenaga and KFC shed 20 sen each to RM8.25 and RM6.50 respectively. KNM, Ann Joo and Sarawak Plantation were amongst the gainers, up 4 sen each to RM1.50, RM3.22 and RM3.14 respectively.