KUALA LUMPUR: BIMB Securities Research expects the local market to remain negative in the short to medium term amid the global slowdown.
It said on Tuesday the immediate support for the FBM KLCI was at 1,520 followed by the critical 1,500.
On the external front, Wall Street saw its highest trading volume in about four years as stocks posted their worst declines of the year sparked by China growth fears.
The DJIA and S&P500 tumbled 3.57% and 3.94% respectively to end at 15,871.28 and 1,893.21.
European stocks closed sharply lower spurred by worries that China’s economy is slowing down more than anticipated.
In earlier trading, key regional indices ended sharply lower with China shares wiped out 2015 gains as stocks fell 8.5%.
Other Asian stocks and a number of regional currencies fell to fresh multiyear lows.
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