Wall Street last night, causing a collapse of between 4.3% and 5.1%

Mayday! Mayday! The bears ran wild on Wall Street last night, causing a collapse of between 4.3% and 5.1% in key equity indices amid mounting concerns that the global economic recovery might stall.

This will inevitably trigger a sell-off across Asia equities today. The benchmark FBM KLCI on our Malaysian bourse will not be spared too, likely to drop below the immediate support level of 1,530 ahead. In terms of corporate developments, Atis should buck the falling market trend, as the company has proposed a selective capital reduction and repayment exercise to make a cash return of RM1.30 per share to entitled shareholders. Separately, Affin shares are expected to come under focus too after it called off its acquisition plan to acquire an Indonesian bank.