KUALA LUMPUR, March 12 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) continued its decline, breaching the key support level of 1,490-1,500, driven by heightened investor concerns over the potential repercussions of an escalating global trade dispute. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices were mostly lower as investors navigated uncertainties stemming from potential economic slowdowns. At 5 pm, the FBM KLCI dropped 35.32 points, or 2.32 per cent, to 1,484.83 from Tuesday’s close of 1,520.15. The index recorded close to 10 per cent loss on a year-to-date basis. The market bellwether opened 15.44 points lower at 1,504.71, and fluctuated between 1,478.84 and 1,505.33 throughout the day. On the broader market, decliners thumped advancers 659 to 297, while 469 counters were unchanged, 964 untraded, and seven suspended.
Yesterday, the Kuala Lumpur High Court today dismissed the Home Ministry's application to stop The Edge Weekly and The Edge Financial Daily from resuming publication, pending the outcome of its appeal.
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| The Edge publication can resume pending outcome from appeal |
Among other things, Asmabi had said that Zahid was himself "in doubt" on whether The Edge had published its articles by relying on allegedly unverified information on online news portals, especially Sarawak Report.
In the legal challenge filed by The Edge, the home minister and the Home Ministry’s secretary-general are named as respondents.
A hearing date has yet to be fixed at the Court of Appeal for the government's appeal against the September 21 ruling, Loke said.
She also disagreed that the High Court's decision today would render the government's appeal academic.
"It is not academic because we are still going to argue that the decision of minister is right. If we are successful in that, of course the Court of Appeal would dismiss the damages assessment as well," she said.
She said no date has been fixed for the assessment of damages to be awarded to The Edge for its September court victory, adding that the publisher's lawyers did not object to the government's application for stay of that matter.
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