Malaysia’s benchmark index retreated as profit-taking in key heavyweights weighed on sentiment, while overall market activity remained active. Summary FBM KLCI fell 0.83% to 1,684.93 , dragged by losses in banking and selected large-cap names, despite steady trading participation. Market Performance FBM KLCI : 1,684.93 (-0.83%) FBM Mid 70: -0.00% (flat) FBM Small Cap: -0.23% FBM ACE: +0.20% Broad market was mixed , with weakness concentrated in large caps. Market Breadth & Trading Activity Total volume: 3.54 billion shares Total value: RM4.19 billion Gainers: 456 Losers: 678 Unchanged: 550 Market breadth turned negative , reflecting cautious sentiment. Top Movers – KLCI Gainers Axiata (6888.MY) +1.54% Petronas Gas (6033.MY) +1.18% Sunway (5211.MY) +1.15% Losers Hong Leong Bank (5819.MY) -3.29% Maybank (1155.MY) -3.02% CIMB (1023.MY) -2.47% Banking sector weakness was the main ...
Treasury secretary-general Tan Sri Mohd Irwan Siregar Abdullah said Prime Minister Datuk Seri Najib Razak is set to announce the revisions to Budget 2016 on January 28.
He assured the press and the public that the government will not cut the salaries of two million civil servants in the tweaks.
"The prime minister will announce the revised budget on January 28... let’s wait for his announcement to see what the details are," he said at the launch of the World Bank's office in Kuala Lumpur today.
The revision was necessary as the current economic climate had changed significantly from when the Budget 2016 was tabled. Back then, the oil was $48 per barrel but the oil price has now fallen to below US$33 per barrel.
The Ringgit has also weakened compared to back then.
He assured the press and the public that the government will not cut the salaries of two million civil servants in the tweaks.
"The prime minister will announce the revised budget on January 28... let’s wait for his announcement to see what the details are," he said at the launch of the World Bank's office in Kuala Lumpur today.
The revision was necessary as the current economic climate had changed significantly from when the Budget 2016 was tabled. Back then, the oil was $48 per barrel but the oil price has now fallen to below US$33 per barrel.
The Ringgit has also weakened compared to back then.
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