KUALA LUMPUR, March 30 (Bernama) -- Bursa Malaysia’s benchmark index closed lower today, in line with most regional markets, as investors adjusted their risk exposure amid spiralling oil prices driven by the ongoing West Asia conflict, now in its second month. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) retreated by 24.75 points or 1.44 per cent to 1,687.90 from Friday’s close of 1,712.65. The market bellwether opened 10.57 points weaker at 1,702.08 and fluctuated between 1,682.79 and 1,702.38. The broader market was bearish, with decliners thumping advancers 956 to 371. A total of 373 counters were unchanged, 1,042 untraded and 134 suspended. Turnover expanded to 3.98 billion units worth RM4.85 billion from last Friday’s 2.97 billion units worth RM3.25 billion.
KUALA LUMPUR (Jan 30): The FBM KLCI ended 4.88 points or 0.31% lower at 1,545.59, marking the benchmark index’s eighth daily loss, as sentiment across the region remained tepid on growing coronavirus fears.
The broader market was also generally in the red save for the consumer products, REIT and transportation & logistics indices.
The stock market saw a turnover of 2.81 billion shares for RM2.32 billion, with losers dominating.
Malacca Securities Sdn Bhd said the KLCI remains downbeat as investors continue to be cautious on the economic impact from the virus outbreak.
“Gains on Wall Street are also lacklustre as markets are still on the move to find stability,” the firm said in a note to clients today.
Dragging the KLCI down today were Petronas Chemicals Group Bhd (down 1.98% or 13 sen to RM6.45), Petronas Gas Bhd (down 1.84% or 30 sen to RM16) and Digi.com Bhd (down 1.81% or eight sen to RM4.33).
The World Health Organisation will decide later today whether the rapid spread of the virus now constitutes a global emergency, according to its website.
As at the time of writing the death toll from the virus stood at 170, with more than 7,800 confirmed cases.
In Malaysia, the Health Ministry today confirmed one more peson who had been infected with the coronavirus, bringing the total to eight, all of whom are Chinese nationals.
Asian shares were all in the red. Reuters said losses in Japanese shares accelerated after stocks in Taiwan plunged at the open in their first trading session since the Lunar New Year break.
“Taiwan shares ended down 5.75%, the biggest decline since October 2018, in what could be a preview of how Chinese shares will react when their financial markets re-open on Feb 3,” said the news agency.
Source: The Edge
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