KUALA LUMPUR, May 21 (Bernama) -- Bursa Malaysia ended at its intraday low on Thursday as investor sentiment remained cautious amid ongoing foreign outflows, although the recent weakness may present bargain-hunting opportunities in fundamentally sound blue-chip counters. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 9.33 points, or 0.54 per cent, to 1,708.36, from yesterday’s close of 1,717.69. The benchmark index, which opened 3.74 points higher at 1,721.43, hit an intraday high of 1,722.50 in early trade before losing momentum for the rest of the day. Market breadth was negative, with losers outpacing gainers 656 to 508, while 565 counters were unchanged, 989 untraded and 32 suspended. Turnover fell to 3.49 billion units worth RM3.70 billion compared with 4.15 billion units worth RM4.29 billion on Wednesday.
Quick Summary Indonesia’s stock market suffered its worst two-day selloff in nearly 30 years after an MSCI downgrade warning Jakarta Composite Index (JCI) plunged up to 10% , triggering circuit breakers Regulators pledged reforms , including higher free-float requirements and possible market support Investor confidence remains fragile , with risks spilling into currency and bond markets What Happened Indonesia’s benchmark Jakarta Composite Index (JCI) suffered a historic selloff after MSCI Inc. warned it could downgrade the country’s market status. The index: Fell as much as 10% , triggering circuit breakers for a second straight day Marked the worst two-day rout since the 1998 Asian Financial Crisis Closed down 1.1% after a late rebound following regulatory intervention The selloff came just one week after the market hit a record high . Why Markets Panicked The MSCI warning highlighted: Low free float among Indonesian listed c...