KLCI Down 0.1%; 1525 Support Tipped - Dealer

The KLCI is down 0.1% at 1533.82 in early trade following steep declines in U.S. stocks Wednesday amid fresh concerns over eurozone debt and a selloff in commodities. The plantations subindex is down 0.2%. A local dealer says, "we have seen low volume rallies over last few sessions, which doesn't hold well for the market. We might see the selldown intensify later in the day, especially if foreign funds start to withdraw." He tips immediate support at 1525, followed by 1515. Market breadth is negative with 191 losers, compared with 135 gainers. MISC (3816.KU) is down 0.7% at MYR7.26, IOI Corp. (1961.KU) is down 0.8% at MYR5.27, Genting Malaysia (4715.KU) is down 0.8% at MYR3.61. Among gainers, Hong Leong Financial Group (1082.KU) is up 1.0% at MYR11.80 and Petronas Gas (6033.KU) is up 0.7% at MYR11.30.